Tama-Benton Cooperative

Stewart-Peterson Market Commentary

Closing Commentary - November 24, 2017

Top Farmer Midday Update 11-24-17

 

 

CORN: Corn futures are mostly unchanged with a weak tone in light post-holiday trade volume featuring Managed Money near-record short corn. The markets will close at noon CT today, and this will be the final Top Farmer update for week. Dec corn is at 3.45 and up about 2-1/2 cents for the week. This morning’s USDA Weekly Export Sales were within trade estimates at 1.08 mil tons (42.5 mil bu) for the 2017-18 marketing year; 25,500 tons (1 mil bu). Outside markets offer support today with crude up 60 cents after making new highs earlier today, and the dollar down 42 points.

SOYBEANS:Soybean futures are now firm with Jan beans up 3/4 cent to 9.98, up 8 cents on the week with funds net long the bean complex. Argentina’s weather is a little wetter than Wednesday’s forecast which put early pressure on the market, and 2017-18 Weekly Export Sales, at 869,100 tons (32 mil bu), were below trade guesses; 34,500 tons (1.26 mil bu) was reported for 2018-19. Soybean meal exports were better-than-expected, soyoil sales were within trade estimates.

WHEAT:Wheat futures are down 3-1/2 cents in the Mar CBOT contract to 4.37-1/4. Mar KC wheat is down 2-3/4 cents to 4.35-3/4. Both contracts are down 4 to 5 cents for the week with Managed Money still short more than 100,000 SRW wheat contracts. Weekly Export Sales came in at 199,800 tons (7.3 mil bu) and were below trade estimates.

CATTLE:Live cattle futures are lower, but about even for the week with Dec down .575 to 118.475 and Feb down .900 to 124.575. Mar feeders are up for week, but down slightly today to 152.775, off .375. An increase in cutout values this week offers underlying support. Meanwhile this week’s cash trade came in as high as $120/cwt with many transactions in the $118/cwt area. Morning Weekly Export data showed beef exports up 10% versus last week to 17,400 MT.

HOGS:Hog futures are moderately higher on early buying momentum from Wednesday’s sharp gains. Dec is up .475 to 63.300, a gain of $2.50 for the week and that contract’s highest level since November 9. Feb is up .400 to 69.500. Both contracts gapped to new highs for the move, further solidifying near-term bottoms. This morning’s pork export sales showed a 24% jump from the previous week, and a 1% improvement on the 4 week average. Today’s cash trade is undefined, though expected mostly steady.

 

 

 

 

CLOSED SATURDAY 11/25 AND SUNDAY 11/26

 

Tama-Benton Cooperative Locations and Office Hours 

 

Dysart- 319-476-3666

Office Hours

Monday-Friday 8:00-4:30

 

Vinton 319-472-4791

Office Hours

Monday-Friday 8:00-4:30pm

 

Clutier 319-479-2242

Office Hours

Monday-Friday 8:00am-4:30pm 

 

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 Monday 

Nov. 27th

ADM  5am-5pm

PENFORD 7:30-2:30

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 November 24, 2017, 07:43:25 PM CST
Local Weather

Dysart, Iowa (52224)

Current Conditions: Clear
Temperature: 54°F Dew point: 44°F
Humidity: 69% Pressure: 29.60 in. Hg
Wind: 14 mph From: Northwest

Forecast

Friday

Hi: 63°
Lo: 37°
Saturday

Hi: 52°
Lo: 31°
Sunday

Hi: 57°
Lo: 36°
Monday

Hi: 59°
Lo: 46°
Tuesday

Hi: 55°
Lo: 34°

Zip Code:

© 2017 Freese-Notis Weather

Customer Center

Sign Up Today For

Mobile Alerts

Contact Marlys for Details

or call

319-472-4791