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Quotes |
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C - CORN - CBOT |
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High |
Low |
Last |
Chg |
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May
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621'0 |
606'0 |
618'6s |
17'2 |
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Jul
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634'0 |
616'0 |
630'2s |
17'2 |
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Sep
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642'0 |
626'4 |
639'6s |
17'0 |
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S - SOYBEANS - CBOT |
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High |
Low |
Last |
Chg |
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May
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1305'0 |
1292'0 |
1298'2s |
1'0 |
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Jul
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1320'0 |
1301'0 |
1310'0s |
1'0 |
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Aug
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1313'0 |
1296'0 |
1304'0s |
2'6 |
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Sep
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1277'0 |
1264'0 |
1274'2s |
0'6 |
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Nov
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1250'0 |
1237'0 |
1245'6s |
0'2 |
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O - OATS - CBOT |
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High |
Low |
Last |
Chg |
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May
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404'4s |
-0'4 |
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Jul
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419'0 |
403'0 |
414'4s |
-1'0 |
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W - WHEAT - CBOT |
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High |
Low |
Last |
Chg |
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May
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825'0 |
807'0 |
809'0s |
14'0 |
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Jul
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844'0 |
809'0 |
822'0s |
14'4 |
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LC - LIVE CATTLE - CME |
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High |
Low |
Last |
Chg |
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Jun
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94.150 |
91.850 |
93.650s |
1.825 |
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Aug
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99.700 |
97.650 |
99.300s |
1.675 |
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LH - LEAN HOGS - CME |
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High |
Low |
Last |
Chg |
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May
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79.700 |
78.800 |
79.375s |
1.500 |
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Jun
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76.975 |
76.000 |
76.475s |
1.200 |
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DJ - DOW JONES INDUSTRIAL AVG - CBOT |
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High |
Low |
Last |
Chg |
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Jun
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1276'5 |
1272'0 |
1276'0 |
-6'4 |
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@SP - S&P 500 - CME |
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High |
Low |
Last |
Chg |
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Jun
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1391.80 |
1382.00 |
1385.50 |
- 6.50 |
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@ND - NASDAQ 100 INDEX - CME |
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High |
Low |
Last |
Chg |
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Jun
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1964.75 |
1953.00 |
1955.25 |
- 9.75 |
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My LDP |
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| County LDP |
| Grundy, IA |
PCP |
LDP |
Date |
| Barley |
4.69 |
- 2.94 |
5/9 |
| Canola |
24.50 |
- 15.44 |
5/9 |
| Corn |
5.73 |
- 3.87 |
5/9 |
| Durum |
0.00 |
0.00 |
5/9 |
| Flaxseed |
28.30 |
- 18.44 |
5/9 |
| HRS |
0.00 |
0.00 |
5/9 |
| HRW |
8.16 |
- 5.14 |
5/9 |
| Oats |
3.38 |
- 2.03 |
5/9 |
| RapeSeed |
24.11 |
- 16.90 |
5/9 |
| Sorghum |
10.02 |
- 6.65 |
5/9 |
| Soybeans |
12.24 |
- 7.31 |
5/9 |
| Sunflower Oil |
25.47 |
- 16.58 |
5/9 |
| Sunflower Seed |
25.47 |
- 16.58 |
5/9 |
| Wheat |
6.53 |
- 4.04 |
5/9 |
| White |
0.00 |
0.00 |
5/9 |
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Effective immediately, Mid-Iowa Cooperative announces free price later contracts are available for off-farm delivery to any Mid-Iowa Cooperative location. If interested, please contact the location, you wish to deliver your grain to.
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Daily Commodity Comments |
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Thursday, May 8, 2008
Corn opened higher and never looked back leaving new contract highs in its wake. With a bullish USDA report expected tomorrow corn was able to break the recent sluggish trade and close firm. The USDA is certainly in a pickle trying to forecast ending stocks practically having to pull the number from thin air. One of two scenarios will happen tomorrow, 1: show a higher yield and acres with steady demand resulting in a 700 ish carryout. 2: show a more realistic yield and acres with forecasted demand rationing resulting in a 700ish carryout. The problem with scenario #1 is that using a 153-154 yield in the face of prolonged planting delays, history says that if we’re not 60-70% planted by May 15th then trend line yields can be thrown out the window. History also says that prolonged planting delays result in steady to less corn acreage from the March intentions report, not more! The problem with scenario #2 is that the type of demand rationing that the USDA may forecast is not happening at these prices! Little margin for error this year and it feels like were behind 0-2 in the count.
Well so much for the Argentina back on strike rally. Beans had a rather quiet day as most of the focus continues in the corn pit (screen). Another week to ten days and guys might actually consider switching to beans, although the economics say to plant corn till Memorial Day. Crude Oil rallied higher after the grain market closed. If corn is on the brink of moving sharply higher beans will reluctantly follow to the upside. Report out a 7:30 AM CST. Feel free to call and discuss the numbers. Have a good evening!
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Quote of the Day |
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"Whether you think that you can, or that you can't, you are usually right." |
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