Grain Bids
CANOLA FOB UTOWN 04-12-23            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price

SWW            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price

Club Wheat Max 10.5%            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price

HRW 11.5%            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price

DNS 14.0%            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price

Barley (Coast)            
Delivery Start Notes Basis Cash Price Delivery End Basis Month Futures Price
Quotes are delayed, as of April 15, 2024, 07:16:18 AM CDT 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.

Protein Scales

HRW: + 5 cents each 1/2% above 11.5% to 13.0%; - 10 cents each 1/2% below 11.5%

DNS: + 3 cents each 1/4% above 14.0% to 15.5%; - 7 cents each 1/4% below 14.0%

SWW: + 0 cents each 1/10% below 10.5%; - 0 cents each 1/10% from 10.5% to 12.0%. Max = -$0.00

** CLUB WHEAT MAX 10.5% PROTEIN ONLY **

Premiums and Discounts are Subject to Change...Please Call to Confirm


Commentary
Wheat Dropping to Start Monday
The wheat complex is trading with losses this morning, as CBT is leading the way lower. . The three markets posted Friday gains across the board. Chicago contracts were up 2 to 4 1/2 cents, with Kansas City HRW futures 6 to 8 1/2 cents higher. MPLS was up 2...
Beans Lower on Monday Morning
Overnight soybean action has things down 3 to 4 cents in the front months. Beans had some stronger trade action on Friday as contracts rallied 10 to 15 cents into the close. They still posted some weakness last week as May lost 11 cents and November was down 8 ½...
Cattle Trying to Find Support Amid Headline Risks
Live cattle resumed the collapse on Friday, as contracts were down $1.25 to $2.77. No delivery notices were issued against April futures on Friday. Cash trade last week was reported @ $182 in the South, a $2 drop on the week, with Northern action also weaker at $293-295 in the...
Hogs Bulls Looking for a Fresh Start This Week
Lean hogs were down the limit at times on Friday, but saw June closing a tick off of it, with most contracts down $1.95 to $3.725 on Friday. USDA’s National Average Base Hog price was down 45 cents in the Friday afternoon report at $86.60. The CME Lean Hog Index...
Corn Pulling Back to Start New Week
Corn prices are down 2 to 3 cents as we roll into Monday morning. Futures settled 6 to 7 cents higher on Friday. May futures ended the week with a slight 1 ¼ cent gain, while December was down ½ cent. Preliminary open interest sank 21,058 contracts, all of that...
Cotton Starting the Week with Early Morning Rally
Cotton is trading 83 to 131 points higher following overnight action. Futures were down 17 to 75 points in most contracts on Friday’s close. Crude oil backed off the early strength to close with gains of just 44 cents. Oil had a muted reaction to rising Middle East tensions over...

Futures Table
Quotes are delayed, as of April 15, 2024, 07:16:18 AM CDT or prior.

Local Daily Commentary

4/12/24

Apr 12 market email:  http://s3.amazonaws.com/media.agricharts.com/sites/2446/Markets_AM_04_12_24.pdf

 

Wheat futures are trading higher this morning, up 3 to 5 cents in the MAY 2024 futures. Tensions are high in the middle east with Iran threatening to start a conflict with Isreal over the weekend. Probably doesn't directly affect grain markets but traders don't like being overly short during events like this. This latest wheat rally may have priced us above the level that buyers are willimg to pay. Might have to wait for demand to catch up or beat the price back down to get some additional sales on the books. Another factor that could be holding up export sales is the US Dollar hitting a high of 10.5945 overnight which is the highest its been since early November 2023.

 

Showers were seen in the Eastern Midwest yesterday and are expected to slow early fieldwork. Warmer and drier conditions are seen for the next 4 days in the Western Midwest and Northern Plains. Dryness is expected in parts of the Central Plains increasing stress on the HRW wheat. Potential frost is seen next week in the Central Plains and Eastern Midwest.

 

WASDE report came in Yesterday and showed US Wheat carryover a bit higher than avg expectations at 698 MMT (690 MMT avg estimates), up from 673 MMT march report. This is due mainly from a decrease in feed and residual (domestic) use. Corn and soybean ending stocks both came in higher than expected. This was also another report where the USDA didn't make any changed to Brazilian corn and soybeans, even though everyone is pretty much agreed that the production is lower than what the USDA is showing. Another report where they "kicked the can down the road" possibly preferring to fine tune their data before they put out their "real" estimate. All in all the markets are taking a bearish

Cash Futures Prices: Chicago MAY is up 5 at 557. KC MAY is up 3 at 586 and MPLS MAY is up 3 at 640. US Dollar is trading 0.70 higher at 105.99.

 


2024 Spring Canola Program

WINFIELD CROPLAN

                  IN SEASON

CP9978TF   $ 789/50# BAG

CP9221TF   $ 799/50# BAG

CP930RR     $ 699/50# BAG

 

TREATED WITH HELIX VIBRANCE PLUS LUMIDERM

(VARIETIES ARE SUBJECT TO AVAILABILITY)

 

  TF* TRUE FLEX VARIETIES—44oz RATE OF GLYPHOSATE

  RR* ROUNDUP READY VARIETIES—22oz RATE OF GLYPHOSATE

 

MARKETING REBATE ON SEED—Growers who purchase their Canola seed from UCA and deliver any portion of their crop to UCA will receive a $ 0.25/cwt marketing premium when they sell their crop.

To place seed orders, please contact BEN ANDRUS 


Local Weather
Forecast

The CME Group Intercontinental Exchange