GENERAL MANAGER: Jeff Olson
BOARD OF DIRECTORS: Lenny Saathoff, Barry Loomis, Ralland Janssen, Byron Hendrickson & Scott Thompson
 
 
Grain/Market News Report
Monday, October 22, 2018

Corn: CZ18 +2.00¢, CH19 +1.75¢, CK19 +1.75¢, CN19 +1.75¢
  • Corn futures remain positive at midday
    • Fundamental news is quiet to start the week
    • Should expect a decent amount of harvest progress across the corn belt, good window for much of the WCB over the weekend
    • Harvest progress released at 2PM
  • Weekly corn export inspections reached 37.4 million bu.
    • Trade estimates ranged 35.4-47.2 million bu.
    • Marketing year corn export shipments to date exceed the seasonal pace needed to reach USDA’s target by 15 million bushels, up from 12 million bushels the previous week.
    • Top Destinations: Mexico 8.4 million bu., Colombia 7.0 million bu., Japan 6.9 million bu.
    • The technical picture feels a bit shaky
      • CZ18 reached its highest values on Monday and by Friday it closed below key support at 370
      • Next target is 366 and would a rebound over 370 continue to tempt the funds to build more of a long position?
      • Beans:  SX18 +2.00¢, SF19 +1.75¢, SH19 +2.00¢, SK19 +1.75¢, SN19 +2.50¢, SX19 +2.00¢
      • Beans holding their own to start out the week as harvest has made great strides over much of the WCB in the last 5 days
        • The trade will be fixated on just how much harvest progress was made when the USDA tells us this afternoon
      • Brazil is on a fast pace getting their beans in the ground so that they can begin to fill China’s pipeline once again
      • China is in need of beans yet they have virtually no appetite for US beans
        • BEIJING/MUMBAI, Oct 22 (Reuters) - China has dropped a years-long ban on rapeseed meal imports from India as the government seeks to diversify sources of protein used in animal feed, the customs administration said on Monday. Rapeseed meal shipments from India can resume Monday if they meet certain inspection and quarantine requirements, the General Administration of Customs said on its website.
      • Export inspections came in at 42.2 mbu and at the upper end of the range
        • LY on this week we inspected just shy of 100 mbu
        • We shipped 5.9 mbu to Argentina LW which put them as the #2 destination with Egypt #1 at 6.0 mbu
        • We are now 143.57 mbu behind LY’s pace
        • Wheat: KWZ18 -8.00¢ MWZ18 -2.50¢
        • Wheat export inspections today at 382 vs 458.5 last week.
          • Spring wheat behind pace 12%
          • Winter wheat behind pace 23%
          • Total wheat behind by 14%
        • Informa rated all wheat acres of 49.8 Friday. 
          • Higher than last year (2mln) but lower than last month (290K).


ECG's Happenings

 

 
 
 
ECG 2018-2019 DP Grain Program
Corn
.06 per month prorated
5 days grace period
No Minimums
Soybeans
.07 per month prorated
5 days grace period
No Minimums
Bushels delivered will be applied to contracts first and then be allowed to DP. DP corn and beans must be priced by 9/30/19.
Space may be limited.
 

Local Conditions
Estelline, SD
Chg Zip Code: 
Temp: 56oF Feels Like: 56oF
Humid: 33% Dew Pt: 27oF
Barom: 30.21 Wind Dir: NW
Cond: N/A Wind Spd: 14 mph
Sunrise: 7:53 Sunset: 6:32
As reported at WATERTOWN, SD at 5:00 PM
 
Local Radar
Estelline, SD
Radar
 
Local Forecast
Estelline, SD

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High: 58°F
Low: 27°F
Precip: 0%
High: 48°F
Low: 24°F
Precip: 0%
High: 52°F
Low: 29°F
Precip: 0%
High: 53°F
Low: 39°F
Precip: 20%
High: 54°F
Low: 39°F
Precip: 54%
View complete Local Weather
 
DTN Weather Summary
Tuesday Continues Dry
Bryce Anderson (Bio) – DTN Meteorologist

Dry conditions covered all major crop areas Monday afternoon. Temperatures ranged from the upper 30s in the southern Canadian Prairies to the mid 70s on the eastern Gulf coast and South Atlantic coast. » More DTN Weather Commentary

Posted at 2:05PM Mon Oct 22, 2018 CDT

This Day In History
October 22, 1964
French philosopher/author Jean-Paul Sartre refuses Nobel prize

more info



Did You Know?

In 1928 the Buchanan Amendment provided the first Congressional appropriation for soil erosion research by USDA


Fact courtesy of the USDA


DTN Market Matters Blog
Editorial Staff
Monday, October 15, 2018 11:02AM CDT
Late last week, many farmers ventured out to their rain-soaked fields to check the condition of their crops. Many found ruined soybean plants and sprouting corn. Others couldn't tell, because their crops were covered in snow.
Friday, October 12, 2018 11:16AM CDT
Friday, October 12, 2018 6:56AM CDT

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Headline News
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Hackers Breach HealthCare.gov 10/22 07:23
3 Dead in Mining Accident, 18 Trapped 10/22 07:25
Hurricane Willa Heads For Mexico Coast 10/22 07:27
Banks Lead US Stock Slide 10/22 15:57

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Welcome

  Harvest Hours

        Monday-Saturday: 7:30am & In line by 7:30pm 

              Sunday:  12:00pm - 5:00pm
               Subject to change with the weather.


 

Have a safe and bountiful harvest!!!


 




 

                            


Local Cash Bids
ESTELLINE GRAIN Delivery Cash   Basis    
 Corn Chart October    
  Chart November    
 Soybean Chart October    
  Chart November    
 Spring Wheat Chart October    
  Chart Nov 30, 18    
 Oats Chart Oct 31, 18    
Price as of 10/22/18 06:01PM CDT.
Click to view more Cash Bids

Commodity Quotes
Commodity Last Chg
CORN (@C8Z) 369'4 2'4
CORN (@C9H) 381'6 2'2
CORN (@C9K) 389'2 2'2
SOYBEANS (@S8X) 858'4 1'6
SOYBEANS (@S9F) 872'0 2'0
SOYBEANS (@S9H) 884'6 2'2
HARD RED SPRING WHEAT (@MW8Z) 585'0 -3'2
HARD RED SPRING WHEAT (@MW9H) 594'4 -3'6
HARD RED SPRING WHEAT (@MW9K) 601'2 -3'4
HARD RED WINTER WHEAT (@KW8Z) 507'4 -8'4
HARD RED WINTER WHEAT (@KW9H) 533'0 -8'2
HARD RED WINTER WHEAT (@KW9K) 546'4 -8'2
OATS (@O8Z) 295'6 0'2
OATS (@O9H) 287'4 -0'2
OATS (@O9K) 288'4 0'0
LIVE CATTLE (@LE8V) 112.825 0.550
LIVE CATTLE (@LE8Z) 118.275 1.300

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