YELLOW CORN DiscountSchedule
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Updated 9/16/14 2:49PM
Yellow Corn (Composite) (QBC)
09/15/14 - 09/19/14
09/22/14 - 09/26/14
09/29/14 - 10/03/14
10/06/14 - 10/10/14
* Any information is subject to change with out notice. All information posted here is subject to final confirmation by ADM. Please contact this location at the above number to confirm posted Information.
Market Intelligence
ADMIS Daily Grain Commentary
ADMIS AM Market View & Video
Lack of follow through selling is helping grains. USDA FSA acres are also offering support. Most feel USDA FSA bounce could be limited and short lived esp if harvest yields continue to be reported above expectations. US dollar is a little lower. Most commodities are lower.
About ADMIS Daily Grain Commentary
Marketing Partners Advisory
M.P.A 9/15/14 Recommendations and Conf Call Recap
2014-crop – We are 40% sold at Chicago December 2014 $5.18
Recommendation: sell 5% at Chicago March 2015 $3.80
Recommendation: sell 20% at Chicago December 2014 $4.50
Recommendation: sell 10% at Chicago December 2014 $4.65
2015-crop – We are 5% sold at Chicago December 2015 at $5.02

2014-crop – We are 60% sold at Chicago November 2014 $12.25
Recommendation: sell 5% at Chicago March 2015 $10.25
Recommendation: sell 10% at Chicago November 2014 $12.00

2015-crop – We are 5% sold at Chicago November 2015 $12.03
Recommendation: sell 5% at Chicago November 2015 $ 12.07

SRW – We are 60% sold at Chicago Sept 2014 $6.88
Recommendation: sell 20% at Chicago Sept 2014 $5.75
Recommendation: sell 20% at Chicago Sept 2014 $6.00
HRW – We are 85% sold at Kansas City Sept 2014 $7.59
Recommendation: sell 10% at Kansas City Sept 2014 $7.50
HRS - We are 50% sold at Minneapolis December 2014 at $7.82
Recommendation: sell 10% at Minneapolis December 2014 $7.35

SRW – We are 40% sold at Chicago July 2015 $7.18
Recommendation: sell 10% at Chicago July 2015 $6.25
HRW – We are 30% sold at Kansas City July 2015 $7.65
Recommendation: sell 10% at Minneapolis December 2015 $7.00
Marketing Partners Advisory
Conference Call Recap
September 15, 2014

Harvest is now taking place in most northern hemisphere production areas. Reports of yields for corn, soybeans, and wheat remain generally supportive of the historically large global and domestic production data announced last week by the USDA. Fall weather has also generally been supportive of new crop production with a few exceptions as a result of the cooler and wetter conditions which have been in place most of the growing season. We continue to hear of some minor harvest delays for spring planted crops and additional reports of quality issues for northern hemisphere wheat. However overall yield reports tend to confirm the expectations of very good yields and in some instances astounding yields.

Additional comments from the weekly conference call of the recommendations group of Marketing Partners Advisory include the following –

1. Some wet weather this week in the US may delay fall harvest activities. This may help extend some of the spot premiums being paid for quick shipment. However we expect these premiums will soon evaporate and the entire system will move to new crop pricing values.
2. The wetter fall weather pattern continues to be supportive of early growing season considerations globally for fall planted crops.
3. Later this week there will be some data released from the FSA in reference to US planted acreage from the spring of 2014. We are not sure how to anticipate the data nor are we comfortable assuming how and if the data will soon be built into the USDA’s 2014/15 crop year balance sheets. We consider the data to be low on the significance scale for grains and oilseed prices as the bigger price picture issue now may be the yield consideration of fall harvested crops.
4. The frost event last week did not meaningfully impact production considerations for the US or Canada.
5. Interestingly we continue to see producer selling interest in corn in some of what are traditionally considered to be SW US Corn Belt growing areas. To this point this selling interest does not appear to be consistent with what we are seeing in most corn production areas. In general the US producers seem intent on not finalizing pricing on new crop fall harvested inventories.
6. At this point we do not sense there are early season weather considerations in South America which threaten the early corn, wheat, or soybean new crop production potential.
7. We continue to see and hear reports of US producer focus on cost of production issues for the upcoming 2015 production cycle. At this point we do not sense there is a widespread movement to cut back on production inputs but rather to perhaps tweak the planted acreage crop mix as a way to reduce the investment risk of 2015 production. This is only the beginning of this story as the fall harvest is of more immediate concern. Perhaps if seed costs and/or agronomic support costs begin to decline it may change the focus of producer actions to address the lower price environment for grains and oilseeds.

Best Regards – The Recommendations Group of Marketing Partners Advisory
About Marketing Partners Advisory
Doug Roose Becca Bunton
ADM - Benson Quinn
BQCI Morning Comments

US corn futures followed higher overnight price action
with a stumble to new daily lows before recovering late in the
session. Corn gained support overnight from yesterday’s firm
close and a higher initial reaction to FSA program participation
data. The lower price action developing early in the day session
seemed to me to be a much...

Better harvest yield reports once again today offset any
perceived bullishness for the FSA planted acreage data and China
framework contract with beans giving way to “turn-around Tuesday”
bearish sentiment to close lower after a firmer overnight session.
FSA released its updated September acres during the wee hours of
the morning and wit...

Hard Red Spring Wheat
Wheat futures leveraged a decent performance and
strength, apparently related to an overnight FSA acreage release
that looked rather benign, in the row crop market to trade higher
into the pause. All three wheat markets followed a very defensive
day session open and new lows for the move early in the session
with a nice recovery late ...

About ADM - Benson Quinn
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* Futures composite price shown, delayed at least 10 minutes.
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