June 5 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!!
From the strength from the beans and wheat, corn found itself in the positive with prices push up against resistance points. July closed up 4 ½ at 3.63 and Dec at 3.81. On the overnight we have seen about same trading range. Since its release, the EPA’s RFS numbers has been debate along with ethanol use. 50 day MA for July is 3.72 and Dec is 3.89. Below is Dec corn retracement with MA. 6-10 day forecast looks very good for early development. Most areas should see above normal temps. USDA’s S & D Report will be released next Wednesday carryout Est. is around 1.779 BB.
Soybeans: 2-4 Lower
Was mostly spec buying yesterday as beans saw double digit gains. After a sour week last week we have seen a positive trend upward this week. July closed up 11 at 9.46 and Nov up 9 at 9.24.Still same old chatter about delays. Guess on Carryout next week is around 487mill bu. That would be down 13mbu from last month. Old crop carry out is may be around 339mbu, lower by 11mbu.
After the sell off yesterday, wheat market rebounded with double digit gains and finally testing some resistance levels. With harvest picking up pace, we should have a good idea in about 7-10days on issue in Oklahoma. Kansas and Colorado has benefited from the recent moisture, but if they persist we could start to see problems there. All wheat production carry is estimated at 2.110mbu 23mbu about last month. Winter wheat carry is at 1.474 2mbu above last month.
For more Information please visit http://www.growingtogether.coop/