June 2, 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!!
US Economic Data was released yesterday, which made the US dollar trade higher suggesting that we could see an increase in interest rates by year end…
Corn started the day lower on favorable planning conditions and that crop conditions will improve from last week’s 75%. It was a quick turnaround, as corn gained strength from the wheat market. July closed up ¾ of a cent at 3.52 ¾ and December closed up 1 at 3.69. A narrow trading range on the overnight as July saw a 3 ½ cent range and Dec a 3 ¼ range. USDA said that the corn is 95% planted nationwide, and 84% emergence, with a 74% G/E nationally. Crop conditions in SD are around 68% G/E and 79% in ND. Weekly exports came in around 38.4mb vs. the 37mb last week.
Soybeans: 2-5 Higher
With ideal planting conditions, poor exports and an end to strikes in Argentina, put pressure on the market. July closed down 8 and Nov closed down 4 ½. Was a two sided affair on the overnight as funds become engaged in the market as farmers lock the bin doors. For the most part, all contracts made new contract lows yesterday. Export came in at 2.7mb well below the 5.5-10 estimated. USDA said the beans are around 71% planted and 49% emerged both ahead of the 5 year average. Regionally we are around 75% planted with MN well ahead at 94%.With increased acres in the US and the world has an ample supply of beans could put continued pressure on the market.
Wheat: 4-8 Higher
After last weeks sell off, the wheat market rebounded on tech buying. Also with the condition of the winter wheat crop could see additional support in that market. The support spillover into the overnight as all markets remained firm.. WW conditions continued to decline as we saw them slip 1% to 44% G/E. Spring Wt was pegged around 71% up 2. ND came in at 79% G/E and SD at 53%. TX and Ok hopes to see some dry weather soon as extended weather shows little moisture.
For more Information please vist:http://www.growingtogether.coop