Tama - Benton Cooperative

Stewart-Peterson Market Commentary

Closing Commentary - September 20, 2017

Top Farmer Opening Calls 9-20-17

 

CORN:Corn futures are firm with Dec up 3/4 cent to 3.49 in a modest technical bounce following this week’s test of contract low support at 3.44-1/4. Should that floor hold, look for more sideways trade as the funds, now short an estimated 129,000 corn contracts, remain in control of the lower trend. On the upside, initial resistance is seen up at 3.55-1/2. Weekly Ethanol Stats are due out today, and outside markets should be viewed as mildly supportive. Crude is up 52 cents. The dollar is down 8 points.

SOYBEANS:Soybean futures are higher, reinvigorated by a big bean sale. USDA said 1.080 mil tons (40 mil bu) were sold to an unknown destination in a morning announcement. Of the total, 960,000 tons is for 2017-18, 120,000 for 2018-19. Another 132,000 tons (4.8 mil) for 2017-18 was sold to China. Farther out, a 120,000 tons (4.4 mil bu) were sold to an unknown destination for 2018-19. The supportive demand dynamic in beans should keep the Nov contract bumping up against near-term resistance near 9.80. For now, the contract is up 6-1/2 cents to 9.72, more than a dime off of 100-day moving average support. Weekly Export Sales will be out tomorrow.

WHEAT:Wheat futures are trading firm, and range bound. Dec CBOT wheat is up 3-1/2 cents to 4.46-1/2, and KC wheat is up 4 cents to 4.46. A closely watched Egyptian tender for 175,000 tons went to Russia, thus eliminating any bullish hopes for the wheat market in the near-term. On the upside, a strong ceiling of resistance in the 4.50 zone has formed in recent sessions for the nearby winter wheat contracts. It would take a sustained close above $4.50 3/4 to open the door to a fresh buying wave.

CATTLE:Live cattle futures are mixed while slowly rising to the top of their respective (near-term) ranges in the nearby contracts. Deferred cattle are testing contract highs. We’ll get a Cattle on Feed report Friday afternoon. Prior to that, today’s Fed Cattle Exchange will provide some market banter. Oct live cattle are up .150 to 108.125. Dec is steady at 113.400, and Oct feeders are up .475 to 153.275.

HOGS:Hog futures are lower, possibly running out gas after moving higher since Friday in all but the nearby Oct contract. Oct is down .900 to 59.225. Dec is down .725 to 59.000. Sustained pressure in the cash markets and falling cutout values continue to act as a wet rag over futures.

 

 

*Dysart is hoping to accept soybeans this week 9/18/2017 doing some pre-harvest maintenance

 

Tama-Benton Cooperative Locations and Office Hours 

 

Dysart- 319-476-3666

Office Hours

Monday-Friday 8-4:30

 

Vinton 319-472-4791

Office Hours

Monday-Friday 8-4:30

 

Clutier 319-479-2242

Office Hours

Monday-Friday 8-4:30

 

All Grain Settlements are now completed at the Dysart Office. For your convenience Grain Checks and Contracts may be printed at the Vinton or Clutier locations. 


CR PROCESSOR HOURS WEDNESDAY 

September 20TH

ADM  5am-5pm

PENFORD-7:30am-2:30pm

STARCH  7am-3pm

CARGILL BEANS 7am-5pm

 

THESE HOURS ARE POSTED FOR YOUR CONVENIENCE.SUBJECT TO CHANGE WITHOUT NOTICE.

BE PREPARED FOR EARLY CLOSING WITHOUT NOTICE DUE TO WEATHER, FLOODING, OR DOWNTIME.

Please report Direct Shipment Loads Promptly to the Dysart Office in Order to Maintain Delivery Schedules and to Final Price Contract Over and Underfills. Thank You 

 

 

 

   
Market Snapshot
Quotes retrieved on September 21, 2017, 05:30:03 AM CDT
Iowa Agriculture News
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Dysart, Iowa (52224)

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