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Charlie Martin - Plant Manager
Karl Forehand - Quality Assurance
Mark Kling - Safety Coordinator
Deb Martin - Dist. Grains Sales
Click on News/Business tab to read more about topics below: ProFarmer results......................8/22/08 Crop Tour reports......................8/19/08
8/27/08
GTE NEWS: -Business hours for grain receiving and DDG load-out are Monday through Friday 8-4:30.
--We will be closed Monday, Sept. 1st in observance of Labor Day.-- Area Corn Bids: Del. & (Fut. Month) GTE St. Joseph Bunge (Atch.) Aug (Dec) 5.51(-.45) 5.57 5.66 Sept (Dec) 5.51(-.45) Oct (Dec) 5.54(-.42) Nov (Dec) 5.56(-.40) Dec (Dec) 5.61(-.35) Jan (Mar) 5.61(-.54) Feb (Mar) 5.63(-.52)
Today’s Market Info:
September Corn: 5.774 +2 ¼ Funds were on both sides of the corn market today. The market opened higher in line with soybeans, but sold off to lower levels during early mid session along with a decline in wheat. Prices recovered from midday and on into the close with the market finishing slightly higher on the day. Corn gained sharply on wheat and generally kept pace with modest gains in soybeans. Traders said that the early strength stemmed from a sharp rally in crude oil prior to the open as well as a lower dollar. However, rains moved through Iowa and Minnesota this morning and the remnants of Tropical Storm Fay brought good coverage to southern and eastern Ohio. Further rain is forecast in the central corn belt tomorrow and Thursday. Spreaders were actively buying corn and selling wheat early in the session, and this continued as both markets moved lower. Basis levels for corn were steady to firm in the interior this morning. Movement is said to be very slow. Basis levels for nearby shipment have risen substantially in corn over the past week with more moderate increases seen for September delivery.
September Beans: 13.480 +10 ½ The soybean complex opened higher in line with overnight gains. Traders said that the market was supported in the early going by a lower dollar and higher crude. However, reports of higher than expected rain totals in the NW soybean belt and in parts of Ohio overnight and into the morning pushed prices lower into mid session. A sharp drop in wheat during midday is also thought to have pressured soybeans. Spread trade was said to be active in meal versus oil to start the day, but this switched as the day progressed. Funds were small buyers in soybeans and in oil, and traded on both sides of the market in meal. Basis levels in the interior US were steady to firm today morning. Basis levels at the Gulf have moved sharply higher since last week on very tight supplies in the Mississippi River pipeline. This in turn is due to navigation problems on the Upper Mississippi as well as harvest delays in areas adjacent to the Lower Mississippi that feed into the export pipeline. Sources in the export markets say that Chinese buyers are back in the market, buying soybeans from both South America and the US. There has also been additional beneficial rain in oilseed areas of central and NE China. Comments By: CBOT.com |
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