June 1, 2015
Grain Marketing Specialist
Make plans now to attend the informational meeting nearest you to learn about the Unification Agreement, which includes the Articles of Incorporation and Bylaws and details on the new cooperative.
Board members, management team members, Eide Bailly and legal representation will be present at all meetings to answer your questions.
You may also cast your ballots at these meetings. Only Eide Bailly representatives will be allowed to accept your ballot at the meetings. See list below for a meeting near you!!
Corn: Steady to 2 Lower
Two sided trade on the overnight with a trading range within 3 cents of contract lows. Growing conditions in most places are non-threatening and most places have ample moisture. 6-10 day forecast shows above normal temps and precip. On Friday, EPA finally released their proposed mandated levels for the RFS. Their levels were under current levels that are in affect today. Their levels for 2014-2016 are 13.25, 13.4 and 14billon gallons. Also released on Friday, USDA announced a Bio-fuels Infrastructure Partnership that will invest up to $100 million to potentially double the number of blender pumps available at gas stations across the country. These blender pumps can supply 15% to 85% ethanol blends, which opens the door for increased demand for ethanol.
Lower on the overnight as July contract saw new contract lows and the Nov contract is getting close to being in the same boat…We may see planting progress in the 75-80% range today. EPA also released the numbers on Bio-fuel. The targets were increased from the original 1.28billon gallon mark to 1.63, 1.7, 1.8 and 1.9 billion gallons. These targets run through 2017.
Wheat: Steady to 3 Better
We had a two sided trade on the overnight with just not much happening. Weather is a concern still in the South, with more rain falling from Texas to Missouri, Making everyone nervous about quality issues with the winter wheat crop
For More Information:www.growingtogether.coop