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Hobbyfarmer
Honored Advisor

TID BITS

China will continue to auction its corn stocks into May as the National Grain Trade Centre announced Wednesday a fourth consecutive clearance of up to 8 million mt.

 this makes for about 30. mmt of that stuff going away. Will be nice to see them get current and not have a massive stockpile that traders use as an excuse to whipsaw the price.

 

US biofuel waiver use cuts blending obligation by 1.6 billion gallons: RFA
The controversial use of waivers to excuse some US fuel suppliers from fulfilling their biofuel blending obligations may have cut at least 1.6 billion gallons of biofuels from the anticipated mandates in 2016 and 2017, the Renewable Fuels Association (RFA) said Tuesday.

 

Pruitt needs a "You're fired"

 

 

Brazil’s Agrural agricultural agency has warned that the second ‘safrinha’ corn crop is in danger as the country’s dry season arrives early, just as the crop is entering a key phase of its development.

 

I'm not convinced we we won't get our turn shortly...

 

these are my three big stories today.

 

Two out of three are positive for corn prices .

 

Beans are thirty five cents down from their cash bid highs here and that is with a 10¢ basis improvement.

 

Corn is at its absolute cash bid high this morning with a$3.60 cash bid and a $3.62 May bid.

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5 Replies
Hobbyfarmer
Honored Advisor

Re: TID BITS

Bids for rail freight to take soybeans from the Midwest to the Pacific Northwest have halved in the past two days as buyers of soybeans slashed cash bids.

 

Someone had extra trains booked and just sitting around?  The train booking system is a head scratcher to start with.

 

Hmmm, beans up 9¢ …someone buying? 

 

China isn't the only customer that can ship from there.

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sw363535
Honored Advisor

Re: TID BITS

basis bids in Sw feeding country are improving for corn old crop and new.  some +35 delivered in fall.

Elevators at +5 corn  

Ethanol new crop corn at +15 dec.......... corn today at +25 july   or $4.21

 

Coop new crop MILO   at -40 corn   or $3.72

Ethanol plant milo--Liberal Ks..... delivered today +5 dec c   or  $3.92  new crop ethanol is -25 or $3.87

 

milo is not worthless and stop listening to those who said that...... those reports were full of lies..... like the ships truned around and came back

The bid paid by the chinese importer was $6.72 per bushel ---- SF article

Price paid by second purchaser Saudi Arabia-----  $4.48 per bushel.  ---SF article

 

US exporters came out fine whether they had to pay back or not.  And the US milo Market was not hurt.  Question is who picked up the additional freight?  my assumption is Saudi's.... but i'm not sure.

 

 

 

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sw363535
Honored Advisor

Re: TID BITS

Corn is looking at an interesting 2 weeks ahead.......

 

It will attempt to run up to areas it hasn't seen since last July,,, can it establish new highs on a third attempt..... and will we get some priced in the next 10 days??

 

Jim will.  That's my bet...  and I think I will.   And hope it goes higher.

 

Primarily it is planted acres and how timely   And how dry or wet.... a good 10 days

 

 

 

corn.png

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Hobbyfarmer
Honored Advisor

Re: TID BITS

It began yesterday afternoon.  Started on field that is almost always the last one done because it is usually the wettest.  Planting several notches deeper than normal to get in moisture. 

2018-04-26 07.45.57.jpg

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