Storage and Drying Charges……… Each year some of our patrons pay their storage and drying charges in December…. To put those costs in as an expense for the 2018 income tax year….. If you wish to do this, please contact one of our ACG locations and we will be glad to take care of you.
Futures
@C - @CZ8 - UNKNOWN
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Last
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Low
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Dec 18
Mar 19
383'4
-0'6
384'2
386'0
383'2
384'0s
01:30P
Dec 19
403'0
-0'2
403'0
404'6
402'4
403'4s
01:30P
@S - SOYBEANS - CBOT
Month
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Jan 19
905'0
4'2
900'6
909'2
900'2
904'6s
01:30P
Mar 19
918'2
4'2
913'6
922'2
913'2
918'0s
01:30P
Nov 19
953'4
2'4
950'2
958'0
950'2
953'4s
01:30P
@W - @WZ8 - UNKNOWN
Month
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Dec 18
Jul 19
547'0
5'0
544'2
549'0
543'0
547'6s
01:30P
@YM - E-MINI DOW JONES $5 - CBOT
Month
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Dec 18
23662.00
- 451.00
24003.00
24226.00
23636.00
24113.00
02:19P
My Custom Markets
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Closing Market Comments
12.14.2018
CORN
Corn finished the session quietly today, gaining a ½ cent but CH lost 1 cent this week. Funds were buyers of 4,000 contracts by mid-session and hold an estimated long position of 50,000 contracts. The S&D report came and went on Tuesday with only a 50 mln. bu. reduction in corn usage for ethanol standing out – and not unexpected. Weekly grind for ethanol at 107.6 mln. bu. Weekly export sales on Thursday were an unexciting 36 mln. bu. but YTD commitments of 1.089 bln. bu. are 16% ahead of last year, which is the one bright spot in our export arena. 125 tmt of corn sold to Japan overnight for 18/19 delivery. Talk still circulates that China will buy U.S. corn with 3 MMT’s being discussed this week. Informa released a 2019 corn acreage estimate of 91.4 mln. acres – a bit below the working number the trade had been using. With trend yield and this acreage, 19/20 ending stocks would line up with current 18/19 ending stocks.
SOYBEANS
Soybeans closed 6+ cents lower today and SF lost 16 cents this week – classic buy the rumor sell the fact. Funds were even at mid-day and hold an estimated short position of 20,000 contracts. China picked up 300 tmt of U.S. beans overnight with another 130 tmt sold to unknown destinations. Announced soybean sales to China this week are 1.43 MMT with the trade expecting 5-8 MMT when all is said and done, and the lack of bigger sales this week weighed on futures. The S&D report made few changes and already seems forgotten. Weekly export sales were 29.1 mln bu. and bring YTD commitments to 916 mln. bu., 34% behind last year. YTD commitments to the western hemisphere are 145 mln. bu. ahead of last year (yay Mexico, Argentina, and Canada) and 770 mln. bu. behind to China (not counting this week’s announcements.) Informa released a 2019 bean acreage estimate of 85 mln. acres. The huge carryout for 18/19 hangs over balance sheet projections for next year no matter the acres. A few dry weather issues popping up in central Brazil but overall a good crop still on the way.
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