*Duane Disque : Department Manageremail: firstname.lastname@example.org *Brian Peiler : Grain Merchandiser / Risk Manageremail: email@example.com *Marc Gaffrey:Assistant Grain Manageremail: firstname.lastname@example.org Ph: (541) 989-8221 ~ Toll Free: 1-800-452-7396 ~ fax: (541) 989-8229 MCGG is a full service Grain Merchandiser with
Brokerage Services for CHS Hedging, Inc in our Lexington Office
Portland Grain Prices: Monday, May 20, 2013 2:20 p.m. Grain trading hours for MCGG: 8:30am to 11:15am, 1:00pm to 4:30pm Monday thru Thursday.
Friday's - 8:30am to 11:15am, no afternoon markets.
All bids are basis coast for delivery to any MCGG elevator. Mayfuel surcharge is 28%. *HRW Basis 11.5 Protein. Market scale time of shipping period. **DNS Basis 14% Protein. Market scale time of shipping period.
CBT WHT - JUL
KC WHT - JUL
MPLS WHT - JUL
CORN - JUL
685 1/4 +2
745 +7 3/4
811 1/4 +7 1/2
649 1/2 -3 1/4
Market Commentary: Wheat rebounded modestly to finish the day in the black, while corn was today's laggard finishing the day slightly down in the front months. This afternoon the USDA corn planting progress came in at 71% vs. 60-65% expected as farmers utilized the reasonable planting weather the prior week. With rumblings that corn crops may be down 2 to 4 million acres coupled with a potential yield loss of 6% to 8% may have contributed to the support of the corn market. The 6 to 10 day forecast calls for rain in much of the Upper Midwest which may affect the continued planting progress. Wheat planting progress came in at 67%, 9 points shy of the five year average. News that Saudi Arabia's wheat harvest could drop by 80 tmt to 700 tmt for 2013 contributed to the midday rebound. The Northwest continued to see winter wheat conditions deteriorate over the past week falling 4% in Washington and 3% in Oregon into the good from excellent categories. Technically, CME July wheat nearby support is $6.70 and resistance is $7.30. SWW cash bids steady.
All bids are subject to negotiation. Please call for confirmation.
The information contained in this letter is taken from sources deemed reliable, but not guaranteed on accuracy or completeness and is for informational purposes only.