June 4, 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: 1-5 Lower
Corn bounced around for most of the day yesterday and finished pretty much unchanged in most markets. July closed unchanged at 3.59 and Dec closed up ¾ at 3.76. It remained steady trading for most of the overnight session. Tough resistance to the upside still around 3.65-3.70 Weather remains a non factor at this point and waiting for the hot weather to show up in most places. Ethanol remains strong as production was pegged at 972k barrels/day up 3k from the previous week. Stocks were unchanged at 20.1 million barrels.
Soybeans: 2-5 Better
Soybeans was all over as well but ended yesterday on a sour note. July closed down 5 ½ at 9.35 ¼ and Nov down 2 at 9.15. Overnight saw a tight trading window as well. Beans stopped caring about what the dollar was doing and cared more about rumors of China may default on some meal shipments. Also market does still show planting delay concerns as wet fields are still slowing down farmers trying to get done.
Wheat had a disappointing day as lack of fresh news to spur the market was not there. Minny wheat was the weakest closing down 8 ¼ to 5.63, KC wheat down 6 ¼ to 5.29 Chicago down 1 ¾ at 5.10. Harvest pace in the south picks up and the market will closely watch as quality reports start to roll in. Also weather in Europe is being watched as well as they are hot and dry in some wheat growing areas.
For more information please visit:http://www.growingtogether.coop