GENERAL MANAGER: Jeff Olson
BOARD OF DIRECTORS: Lenny Saathoff, Barry Loomis, Ralland Janssen, Byron Hendrickson & Scott Thompson
 
 
Grain/Market News Report
Tuesday, September 25, 2019

Corn:  CZ18 -1.00¢, CH19 -0.75¢, CK19 -1.00¢, CN19 -0.75¢
  • Corn now trading sideways after making a new recent high this morning
    • Beans tried to pull them higher as they traded 17 higher at one point before reality set in
  • The WCB is wet and harvest progress is at a standstill
  • Farmer selling is zilch as the farmer is more worried about getting the crop out of the field than he is about marketing it currently
  • Basis is real choppy in the country as end users are managing just in time inventories
  • EXPORTERS SELL 239,630 METRIC TONS OF CORN FOR DELIVERY TO MEXICO DURING THE 2018/2019 MARKETING YEAR – USDA
    • Demand remains strong and will be the focal point of the market once harvest is complete
 
Soybeans:  SX18 +6.00¢, SF19 +5.75¢, SH19 +5.00¢, SK19 +5.00¢, SN19 +5.00¢
  • Opposite day in the grain markets with soybeans being the leader higher
    • US harvest is pegged at 14% complete vs. 8% on average
    • Soybean conditions continue to rise……. to 68% G/E
  • SX18 bouncing off of the 20-day MA this morning as futures continue to consolidate between 851^4 and 826^6. 
    • A close over the 851^4 mark would be a good signal for further short-covering
    • With the tariffs calculated, US beans are now cheaper into China than Brazilian beans
    • But will they buy?
    • What is the political risk to a Chinese bean buyer to buy US beans?
    • It seems to be high enough that we aren’t hearing of a bunch of new sales
    •  
      Wheat: KWZ18 -9.5¢ MWZ18 -5.5¢
    •  
    • Good rains in the Black Sea region are pressuring wheat prices today.
    • Weather:
       
    • 0-60 hour changes, heavier rain paths in IA and IN,and in southern OK as well
    • 60-120 hour: also heavier in IA rather than northern KS and MO
    • Forecasts are for rains to slow down after this system
    • The 6-10 day forecasts have some rain in the tail end
    • Things are looking good in Brazil for a nice early start to planting


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: 50oF Feels Like: 47oF
Humid: 89% Dew Pt: 47oF
Barom: 30.03 Wind Dir: W
Cond: N/A Wind Spd: 8 mph
Sunrise: 7:20 Sunset: 7:18
As reported at WATERTOWN, SD at 7:00 PM
 
Local Radar
Estelline, SD
Radar
 
Local Forecast
Estelline, SD

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High: 63°F
Low: 38°F
Precip: 0%
High: 57°F
Low: 45°F
Precip: 20%
High: 51°F
Low: 39°F
Precip: 0%
High: 51°F
Low: 34°F
Precip: 0%
High: 50°F
Low: 38°F
Precip: 49%
View complete Local Weather
 
DTN Weather Summary
Rain Wed. in Plains, Midwest, Delta
Bryce Anderson (Bio) – DTN Meteorologist

Rain expected Wednesday in the Southern Plains and heavier coverage in the Delta and areas of the Midwest. Dry elsewhere. » More DTN Weather Commentary

Posted at 2:43PM Tue Sep 25, 2018 CDT

This Day In History
September 25, 1836
HMS Beagle anchors at St Michael

more info



Did You Know?

In 1918 small prairie-type combines with auxiliary engines were introduced to agriculture


Fact courtesy of the USDA


DTN Market Matters Blog
Editorial Staff
Monday, September 24, 2018 12:28PM CDT
Recently, Union Pacific announced its Unified Plan 2020, a new operating plan that implements "Precision Scheduled Railroading" principles. The U.S. Surface Transportation Board wrote a letter to UP three days after the announcement.
Friday, September 21, 2018 9:31AM CDT
Monday, September 17, 2018 10:58AM CDT

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Local Cash Bids
ESTELLINE GRAIN Delivery Cash   Basis    
 Corn Chart Sept    
  Chart NC    
 Soybean Chart NC    
 Spring Wheat Chart September    
 Oats Chart September    
Price as of 09/25/18 08:02PM CDT.
Click to view more Cash Bids

Commodity Quotes
Commodity Last Chg
CORN (@C8Z) 363'4 -0'2
CORN (@C9H) 375'2 -0'4
CORN (@C9K) 382'6 -0'6
SOYBEANS (@S8X) 848'2 2'4
SOYBEANS (@S9F) 861'4 1'6
SOYBEANS (@S9H) 874'6 2'0
HARD RED SPRING WHEAT (@MW8Z) 584'0 3'0
HARD RED SPRING WHEAT (@MW9H) 597'4 2'0
HARD RED SPRING WHEAT (@MW9K) 602'2 -4'0
HARD RED WINTER WHEAT (@KW8Z) 525'6 3'6
HARD RED WINTER WHEAT (@KW9H) 548'6 3'2
HARD RED WINTER WHEAT (@KW9K) 561'0 3'4
OATS (@O8Z) 257'6 0'6
OATS (@O9H) 262'6 -2'4
OATS (@O9K) 260'4 -2'2
LIVE CATTLE (@LE8V) 112.500 0.175
LIVE CATTLE (@LE8Z) 117.400 0.200

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