Cash Bids
Dalton City
Quotes are delayed, as of November 06, 2024, 05:20:13 PM CST or prior.
All grain prices are subject to change at any time. Cash bids are based on 10-minute delayed futures prices, unless otherwise noted. Bethany
Quotes are delayed, as of November 06, 2024, 05:20:13 PM CST or prior.
All grain prices are subject to change at any time. Cash bids are based on 10-minute delayed futures prices, unless otherwise noted. Cash Bid Update - Heritage Grain
Both locations at normal hours today Closing at 430p
Nov 6, 2024 An impressive turnaround for corn and beans after showing a sizeable loss in the early hours. The financial markets have been reacting to what appears to be a Republican sweep of all 3 legislative branches. The dollar index gapped sharply higher and traded to its highest level in 4 months. The stronger dollar and fears of renewed trade wars with China and Mexico was initially the focus and weighed heavily on corn and especially soybean futures. Corn fundamentals have been improving as export demand has been strong.
The USDA will update their WASDE numbers on Friday. Analysts expect small revisions to both corn and bean production. Estimates are at the bottom.
Weekly ethanol production came in above trade estimates and at the highest level for this marketing year and highest since late July. Ethanol stocks were also above trade estimates.
Weekly ethanol production showed a 2.1% jump compared to last week's output, and up 2.2% from the same week last year.
The energy markets have turned moderately higher after initial reaction was weaker. Trump policies are expected to be favorable for oil production.
From a technical perspective, Dec Corn CZ has reversed higher in key reversal fashion after posting a lower low and higher high on the daily chart.
It's also interesting to see the 20, 50 and 100-day moving averages converging near 4.13 this morning (CZ24).
Nov SX Bean futures have rallied back near unchanged and back above the 20-day moving average after holding support near the recent lows.
On the weather front, soaking rains continue for C and N Brazil. Argentina and S Brazil remain dry for the next week or so. Rans are expected by mid-month.
Estimates for Friday's WASDE report are as follows:
Corn Yield 183.8 vs 183.8 in Oct Bean Yield 52.9 vs 53.1 in Oct
End stocks: Corn 1.936 vs 1.999 in Oct Beans 535 vs 550 in Oct Market Alerts
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Location Hours : Dalton City & Bethany 7-4:30pm M-F CLOSED SAT-SUN
Dalton City Bethany Contact Us
Heritage Grain Cooperative
PO Box 12
Dalton City, IL 61925 217-874-2392 Dalton City
217-665-3392 Bethany
217-727-6081 Fax
Futures Markets
Quotes are delayed, as of November 06, 2024, 05:20:13 PM CST or prior.
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