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Dalton City
Delivery Start Delivery End Cash Price Basis Futures Price Futures Change
CORN
SOYBEANS

Quotes retrieved on October 25, 2020, 09:21:57 AM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Bethany
Delivery Start Delivery End Cash Price Basis Futures Price Futures Change
CORN
SOYBEANS

Quotes retrieved on October 25, 2020, 09:21:57 AM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Commentary

 

October 22th ,2020

 

CORN

Corn closed 1-2 cents higher in active trade and an 8-cent trading range. Funds were estimated buyers of 12,000 contracts at mid-day to add to an estimated long position of 245,000 contracts. Technically, corn is overbought with an RSI of 77, but that doesn’t seem to cool buying interest as world values remain stout. Export potential seemed the driver again today. Weekly export sales were 72.1 mln. bu. and bring YTD commitments to 1.116 bln. bu. vs. 427 mln. bu. last year. Buyers of note were Japan, China, Mexico, and Taiwan. Obviously, the enthusiasm for China buying corn continues as they’ve already purchased 10.5 MMT from the U.S. (against the current UDSA projection of 7.0 MMT from all sources). Assume China buys 20 MMT of corn from the U.S. in 20/21 – that’s another 400 mln. bu. of export corn demand. Tack that on to current demand projections, take national yield down just .5 bpa, and carryout drops to 1.7 bln. bu. and a stocks to use ratio of 11% - just above the 10% level where the market gets really interested. Also, it’s estimated that Brazil is roughly a month behind in their rainy season getting started, which could push the beginning of their corn export season to July and possibly August.

SOYBEANS 

Soybeans finished the day marginally higher, but the last ticks nearby were lower (thank you 1:15 close deciding closing prices.) Trading was active in a 10-12 cent range. Funds were buyers of 8,000 contracts at mid-day to add to an estimated long position of 254,000 contracts. Soybean export sales announcements this morning: 154 tmt to unknown and 132 tmt to Mexico. Weekly export sales were solid at 81.8 mln. bu. and bring YTD commitments to 1.666 bln. bu. vs. 671 mln. bu. last year. Buyer of note: China – of course. Export demand continues to drive bean futures higher. YTD China has purchased 25 MMT of U.S. beans (and probably another 8-9 MMT when considering sales to unknown) for a total of 33.5 MMT +/-. Assuming China buys at least 100 MMT (105 MMT rumored) and the U.S. gets 40% of the business (later than normal Brazil harvest) that’s an additional 240 mln. bu. of sales for U.S yet to be booked. These are the calculations that keep things interesting as U.S. ending stocks could easily push below 200 mln. bu. Weather in Brazil is improving with better rain chances in the Center West region next week. Brazil is thought to be out of beans to export and there are rumors they’ve bought a couple U.S. cargoes – if so it’s the first time since 1999.

Futures Markets
Quotes retrieved on October 25, 2020, 09:21:57 AM CDT

 Office Hours: 

Dalton City: 

Harvest Hours unless otherwise notified 

Monday- Saturday 7am-7pm

Sunday 12-5pm

Bethany: 

Harvest Hours unless otherwise notified

Monday-Saturday 7am-7pm

Sunday 12-5pm

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 
 
dale.plumer@heritagegrain.com


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Dalton City, Illinois (61925)

Current Conditions: Cloudy
Temperature: 44°F Dew point: 37°F
Humidity: 76% Pressure: 30.14 in. Hg
Wind: 13 mph From: Northeast

Forecast

Sunday
Weather condition
Hi: 52°
Lo: 39°
Monday
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Hi: 49°
Lo: 39°
Tuesday
Weather condition
Hi: 46°
Lo: 36°
Wednesday
Weather condition
Hi: 53°
Lo: 28°
Thursday
Weather condition
Hi: 54°
Lo: 34°

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