Are there reasons to be optimistic for corn prices?

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCThe last USDA report lowered export demand by 75 million bushels, most likely due to the anticipated large corn crops in South America and Ukraine. Unlike the U.S. though, these countries lack adequate storage, which means their corn is priced to move when it is harvested and it will compete with U.S. supply.The USDA also reduced the ethanol grind by 25 million. The recent price set-back, could help ethanol plants’ margins and allow for the grind to remain steady going forward.On a positive note, feed usage wasn’t reduced any further in this report. Some say the long cold winter is causing lower feed efficiency, so some expect feed demand to be adjusted higher down the road. While others in the trade think the much lower wheat prices will encourage end users to replace corn with more wheat in the rations. I’m not sure this will happen though, given wheat’s relatively good carry and strong basis most of the year will keep much of the wheat out of feed.Another positive note from the USDA report was world stock levels for corn were slightly lower. It’s probably not enough to move the market, but at least it wasn’t more negative news.Farmers seem to be tired of talking about the markets. The 3-month sideways market was boring to watch, and the recent 22-cent drop in the last 2 weeks has caused many farmers to just stop watching the market and tune everything out. Many farmers are waiting, hoping a solution eventually presents itself. I too am frustrated and wish I had more sold.Current prices are inconsistent with last year. One year ago, July corn was trading $4, despite a potential 2-billion-bushel carryout. This year with a now 1.8 billion carryout, July futures are trading $3.73. Maybe the market was a little too high last year, and now it may be a little too low.The continued lack of a trade deal is frustrating. Many farmers thought the trade war would be over by now, but there is a sense it could take a long time, maybe until Christmas for a deal to be made. Some say it’s just a matter of time before a deal is made, but no one really knows. That uncertainty is putting downward pressure on prices as some traders are worried about the world economy as the trade deal wears on.While futures prices have dropped below the recent tight range, corn basis has rallied 8 to 10 cents at most end users across the country. This signifies farmers are generally not selling at these lower futures values. While this doesn’t mean a guaranteed rally, it does mean farmers are likely waiting for better prices or at least until more is known about the ’19 crop before they sell the rest of their ’18 crop. Without a futures rally the basis is likely to continue to work higher.There are certainly a lot of unknowns in the corn market right now. Some may have a bigger effect on futures prices than others, but all have the potential to impact prices either higher or lower. Here are just a few of them:Trade with or without China will remain a huge topicSpring weather and if the crop is planted on timeSummer weather and if the crop will be at or above trendline yieldThe number of acres of corn planted by the U.S. farmer this yearAsian Swine Flu or some other disease slowing world feed demandThe world economy and the value of the dollar.Right now, I’m sitting on the sidelines waiting to see what we know in another month. Please email [email protected] with any questions or to learn more. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.last_img read more

NBA: Magic stun East-leading Celtics in Boston

first_imgRead Next Globe Business launches leading cloud-enabled and hardware-agnostic conferencing platform in PH Sports venues to be ready in time for SEA Games PLAY LIST 00:59Sports venues to be ready in time for SEA Games00:50Trending Articles02:29Giannis Antetokounmpo powers Bucks in bounce back win over Celtics01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City Brace for potentially devastating typhoon approaching PH – NDRRMC MOST READ NEXT BLOCK ASIA 2.0 introduces GURUS AWARDS to recognize and reward industry influencers Kammuri turning to super typhoon less likely but possible — Pagasa Slow and steady hope for near-extinct Bangladesh tortoises Orlando spoiled the return from injury of Boston point guard Kyrie Irving, whose 40 points couldn’t prevent the Celtics from dropping a third straight game for the first time this season.Kyrie had missed Thursday’s loss to the Philadelphia 76ers with a nagging shoulder injury.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSLillard, Anthony lead Blazers over ThunderSPORTSMalditas save PH from shutoutEvan Fournier scored 19 points and Aaron Gordon produced a double-double of 11 points and 12 rebounds for the Magic, who started the day in a three-way tie for the worst record in the league.Orlando trailed 59-58 at halftime, but out-scored the Celtics 32-12 in the third quarter to take a 90-71 lead into the final frame. The Magic’s upset bid appeared to be coming unstuck as they made just one of their first 16 shot attempts of the fourth quarter.The Celtics trimmed the deficit to seven points on Al Horford’s hook shot with 1:13 remaining.A free-throw from Payton and Fournier’s floater in the final minute stretched Orlando’s lead back to 10. /cbbADVERTISEMENTcenter_img Typhoon Kammuri accelerates, gains strength en route to PH LATEST STORIES 2 ‘newbie’ drug pushers fall in Lucena sting Don’t miss out on the latest news and information. Team personnel assist Boston Celtics’ Kyrie Irving (11) after he was injured during the first quarter of an NBA basketball game against the Charlotte Hornets in Boston, Friday, Nov. 10, 2017.  APWASHINGTON, United States — The Orlando Magic parlayed a big third quarter into a 103-95 upset of the Boston Celtics on Sunday, their third win in 20 games coming against the NBA’s Eastern Conference leaders.Elfrid Payton scored 22 points for the Magic, who had lost their last 14 games in Boston in a skid stretching back to February 2010.ADVERTISEMENT Lady Chiefs stretch win streak to 5 John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding View commentslast_img read more

a month agoEverton boss Silva admits he didn’t want to sell Lookman

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Everton boss Silva admits he didn’t want to sell Lookmanby Paul Vegasa month agoSend to a friendShare the loveEverton boss Marco Silva admits he was reluctant to sell Ademola Lookman.The 21-year-old was entering the final two years of his Goodison contract and with RB Leipzig willing to pay £22.5m for the wantaway winger, Everton agreed to his sale in late July.“He spoke to me at the end of the season about what he wanted to do and what was his desire,” Silva told the Liverpool Echo.“Like you know, at the beginning of last season he spoke to me about his desire to leave the club. I said no, no and no, even if we received a very good offer to sell him, for our structure, no because I saw in him, and I keep seeing in him…(his quality).“If you are asking me about my technical point of view, if I would like to sell him, I will say no.“At the end of last season he came to see me in his office to tell me what he was thinking, about his desire, his future and what he would like to do.“I respect his opinion but I said to him ‘you are in my plans again’.“Then came an offer to the club, and like you know I don’t like to talk about this side of things, but the had just two years left on his contract with us and so then we are talking about many, many things.“It is not just a technical point of view because my opinion about Lookman is the same about as last season. I don’t have doubts. He has all the qualities to have a very good career. The quality is there, he has to change some things, but the quality is there. The most difficult thing, he has – the quality and the talent.“In football you many people with talent who don’t achieve but I believe he will achieve good things in his career.” last_img read more

Doval visits south Kashmir meets locals policemen

first_imgJammu: National Security Advisor (NSA) Ajit Doval on Wednesday undertook a whirlwind visit to the militancy-infested south Kashmir and assured the locals that their security is the government’s responsibility. Doval arrived in Kashmir on Tuesday, a day after the Centre revoked the provisions of Article 370, which gave special autonomous status to Jammu and Kashmir. He is reaching out to the local population in the Valley as a confidence building measure (CMB). Also Read – India gets first tranche of Swiss bank a/c details “Everything will be alright. Your safety and security is our responsibility,” Doval told people in Shopian district. An unprecedented security cover and several restrictions are in place in Kashmir. All modes of communication have been snapped in the Valley. Doval was seen eating food on a footpath outside closed shops and talking to locals. He exchanged views with them on the security situation and the government’s decision to abrogate provisions of Article 370 and bifurcate Jammu and Kashmir into two Union territories. Also Read – Tourists to be allowed in J&K from Thursday “Your children and their children will continue to live here. They will make their name in the world,” the NSA told people. He also met policemen in the area and praised their role in the containing the situation in the state for the past several years. “Jammu and Kashmir Police is one of the best police forces. It has a special place for us,” Doval told the policemen. Later, videos of Doval, flanked by director general of police, Jammu and Kashmir, Dilbagh Singh, interacting with locals and policemen went viral on social media.last_img read more

Despite NAFTA jitters Canada launches trade broadside against US

first_imgWASHINGTON – Prepare for a tense moment in Canada-U.S. relations — with hard bargaining on NAFTA on the horizon prompting nervous glances at Donald Trump to see whether he cancels the agreement, now compounded by a bitter, wide-ranging trade dispute.Canada launched a broad attack against American trade practices in an international complaint about the superpower’s use of punitive duties, eliciting a caustic counter-swipe from the Trump administration when the document was made public Wednesday.”(This is an) ill-advised attack,” U.S. trade czar Robert Lighthizer said. “Canada’s claims are unfounded and could only lower U.S. confidence that Canada is committed to mutually beneficial trade.”Two weeks from now, the unstated backdrop to the dispute will be squarely in the foreground.The countries will gather in Montreal for a high-stakes round of NAFTA negotiations, with no additional talks scheduled beyond March. Canadian officials say they know full well that Trump could invoke NAFTA’s withdrawal clause during this January-March period.What would happen then? For starters, the Canadian dollar and Mexican peso would take a quick plunge, just as they did Wednesday after news reports emerged saying the Canadian government is more convinced than ever that Trump is poised to invoke NAFTA’s withdrawal clause, perhaps around the time of the talks in Montreal Jan. 23-28.Two Canadian government sources insist that’s not true. Rather, they say there are different points of view within the Canadian government about whether Trump will pull the plug — as he’s repeatedly threatened to do — and, if so, when.One official said the current uncertainty could last several months, or even longer: even if Trump issues a withdrawal notice, the agreement provides six months before a country can actually leave. Some U.S. observers also predict court fights over whether a president can abandon a trade deal without congressional approval.Speaking of court fights, more are on the way.Canada has launched a World Trade Organization complaint about the U.S. system for imposing punitive duties, alleging that they violate international law.The complaint was launched in December but made public Wednesday — the very day, coincidentally, that the U.S. announced its latest trade action against Canada. The U.S. is imposing duties of up to nine per cent on Canadian paper, following similar penalties against Bombardier and softwood lumber, over what the U.S. alleges to be unfair Canadian trade practices.Canada is now arguing that the entire American process for imposing anti-dumping and countervailing duties violates global trade rules. It cites five reasons, saying the U.S. levies penalties beyond what’s allowed by the WTO, improperly calculates rates, unfairly declares penalties retroactive, limits evidence from outside parties, and has a tilted voting system in domestic trade panels that, in the case of a 3-3 tie, awards the win to American companies.The complaint holds global consequences. Canada cited 122 cases where the U.S. unfairly imposed duties on foreign countries, not just Canada.”It’s (saying), ‘The entire way in which the U.S. — you — are conducting your anti-dumping, countervailing procedures, is wrong,”’ said Chad Bown, a trade expert at Washington’s Peterson Institute and host of the podcast ”Trade Talks.””This is effectively Canada bringing a dispute on behalf of all exporters in the world — the Europeans, Japan, China — because they’re making a systemic challenge.”Some critics questioned the timing.Edward Alden of the Council on Foreign Relations called it a precarious moment for NAFTA and the global trading system, both of which are under threats and criticism from Trump: “Canada has just detonated a bomb under both.”Canada-U.S. trade lawyer Mark Warner said Canada is well within its rights to take action on complaints that may have merit. But he questioned the strategic logic of antagonizing the Trump administration on the cusp of the potentially pivotal Montreal talks when it’s already unhappy with both NAFTA and the WTO.“This isn’t going to calm passions in Montreal,” Warner said.Indeed, the Trump administration wasted no time expressing its displeasure. In a statement, Lighthizer not only criticized the move but said it was self-defeating for Canada, too, since if it succeeds, low-cost producers could start dumping product onto the U.S. market, squeezing out Canadian competition.“The flood of imports from China and other countries would negatively impact billions of dollars in Canadian exports to the United States, including nearly US$9 billion in exports of steel and aluminum products and more than $2.5 billion in exports of wood and paper,” he said.“Canada’s complaint is bad for Canada.”Bown was less critical.The smaller northern neighbour could be making a point about NAFTA, he said: that if Canada loses free trade, and its dispute-settlement bodies, it will use international means to fight its battles.last_img read more

Glass Lewis proxy firm backs Crescent Point slate as annual meeting nears

first_imgCALGARY – A second institutional investor proxy advisory firm is wading into the fight by a dissident shareholder to elect a slate of four directors to the 10-member board at Crescent Point Energy Corp.Unlike Institutional Shareholder Services Inc., however, Glass Lewis & Co. is recommending that shareholders vote for all of Crescent Point’s director nominees and none of those put forward by Cation Capital Inc.Glass Lewis says shareholders should also vote in favour of the oil and gas producer’s approach to executive compensation, one of the issues identified by Cation, even though it gives a “D” grade in its report for pay for performance and says the top five executives earn more than the average on a list of their peers.ISS last week suggested shareholders should vote for two of Cation’s four nominees at the company’s annual meeting May 4 because there is a “reasonably compelling case” for board change to improve capital spending decisions, enhance profitability and bring executive compensation in line.Crescent Point endorses the Glass Lewis report, pointing out in a news release it supports the current board’s efforts to address shareholder concerns and finds Cation’s plan “decidedly vague and bereft of any meaningful substance.”In response, Cation says the Glass Lewis recommendation is “entirely flawed,” charging that the advisory firm didn’t fairly consult with Cation about its plan for Crescent Point.last_img read more

US home prices rise more slowly amid weaker sales

first_imgWASHINGTON — U.S. home prices increased more slowly in September from a year ago as higher mortgage rates weighed on sales.The S&P CoreLogic Case-Shiller 20-city home price index rose 5.1 per cent from a year earlier. That’s down from a 5.5 per cent yearly gain in the previous month. It was the sixth straight month that home price increases have slowed.The weaker price gains reflect a broader slowdown in the nation’s housing market. Sales of existing homes rose modestly in October, snapping a six-month streak of declines. But sales are still 5.1 per cent lower than they were a year ago. New home sales have fallen for four straight months. Mortgage rates have jumped in the past year, reaching 4.8 per cent last week, up from 3.9 per cent a year ago.Christopher Rugaber, The Associated Presslast_img read more

FSJ RCMP tips for keeping pedestrians safe

first_imgTips for pedestrian safety: – Be safe – Be seen: wear brighter coloured clothes and consider wearing reflective      accessories – don’t wear earbuds, look and listen for oncoming vehicles – make eye contact with drivers prior to crossing the street or at intersections– use crosswalks and don’t jaywalkTips for drivers sharing the road with pedestrians: – don’t be distracted, keep your attention on the road – look for pedestrians at crosswalks and intersections, and be ready to yield to them – slow down where high pedestrian volume is expected, especially in the early morning hours or when visibility is poorThe RCMP finish by saying “Let’s all do our part to keep each other safe because when pedestrians get hurt, nobody wins.” FORT ST. JOHN, B.C. – After a recent accident involving a pedestrian being struck the RCMP have released the following tips to help keep pedestrians safe.ICBC shared, in B.C. 1 in 5 people that are killed in car crashes are pedestrians and that on average 2,300 pedestrians are injured in BC, every year which works out to 192 people a month or about 6 people a day. Almost half of these crashes are happening in the fall and winter months when days are shorter and driving conditions are more difficult.The RCMP share it is the responsibility of both pedestrians and drivers to ensure everyone makes it to their destinations safely.last_img read more

Crew tie Sounders FC with late penaltykick goal by Renteria

Success against Seattle Sounders FC is rare for the Columbus Crew and, for now, they have to be content with a tie. Seattle took an early 1-0 lead Saturday at Crew Stadium after forward Fredy Montero’s headed goal in the seventh minute. Columbus responded with a 67th-minute penalty kick goal by forward Emilio Renteria. Despite Columbus’ persistent offensive attack, the game ended in a 1-1 tie. Seattle (3-3-4) made itself comfortable in the rainy conditions early in the first half when midfielder Erik Friberg served a cross into the Columbus penalty area. Montero gave Seattle its lead when he leaped to head the ball, which deflected off the post and went past Crew goalkeeper William Hesmer. Crew defender Chad Marshall said the ball played into the Crew’s penalty area by Friberg was “weird.” “It was just a weird cross,” Marshall said. “It was a good finish by (Montero). It’s just gotta be better organization by us.” Columbus (3-1-4) took four shots on Seattle’s goal in the first half, forcing two saves by goalkeeper Kasey Keller. One of the two on-target shots belonged to Crew midfielder Robbie Rogers. Rogers came close to leveling the score in the 32nd minute when a seemingly harmless clearance by Columbus skipped through Seattle’s defensive line. Rogers sprinted to collect the ball, but had minimal time to get a shot off as Keller met him at the top of the Seattle penalty area and kicked the shot aside. “(Keller) made a great save,” Rogers said. “He got it with his hand. Of course, I would like to score that.” The Crew went into halftime trailing, 1-0, but came out firing in the second half. A corner kick by forward Eddie Gaven in the 65th minute eventually resulted in a game-tying goal for Columbus. After Gaven hit his corner, Seattle defender Patrick Ianni pulled Marshall to the ground inside the Sounders’ penalty area. As a result, referee Mark Kadlecik awarded a penalty kick to Columbus. Marshall, who pulled his shirt up to expose scratch marks on his chest as he talked to reporters after the game, said he was glad the referee awarded the penalty. “(Gaven) hit a good ball in,” Marshall said. “I got away from (Ianni) and he had to foul me, I guess. The ball was coming right to me. I’ve got freaking marks all over me.” Renteria took the penalty attempt for the Crew and knocked it passed Keller to tie the game, 1-1. With the goal, Renteria has now scored all four of his goals this season in Columbus’ last three matches. The Crew’s pressure on the Sounders’ defense — and Keller — did not subside. As play continued into the final minutes of the match, Columbus had accumulated 13 second-half shots, while Seattle managed only one shot on Hesmer in the half. Columbus also failed to convert on a flurry of opportunities in stoppage time, which began with a diving save from Keller. Midfielder Andres Mendoza came on in the 61st minute as a second-half substitute for the Crew, and took the kick from just outside the Sounders’ penalty area, which Keller parried over his goal. The Crew’s chances in stoppage time also included three corner kicks, none of which resulted in a goal. Kadlecik blew his whistle to end the game in a 1-1 tie after Seattle cleared the last of Columbus’ corners. After the match, Crew coach Robert Warzycha said Columbus responded well to the Sounders’ early goal. “Second half, completely different game,” he said. “We pushed for the goal, and we obviously scored one and we’d like to have scored another one. (We) created numerous chances in the end, and we didn’t get lucky. The most important thing is the result.” The Crew next will travel to California for a Saturday match against the San Jose Earthquakes. Kickoff is scheduled for 10 p.m. read more

Pochettino explains why he allowed Kane to play in FA Cup

first_imgThe Spurs were up 6-0 against Tranmere Rovers in the FA Cup, and Mauricio Pochettino still decided to sub in his captain for the second half.Tottenham Hotspur was easily winning 6-0 against Tranmere Rovers in the FA Cup Third Round.But Spurs manager Mauricio Pochettino decided to play one of his best players: captain Harry Kane.Kane went on to score Tottenham’s seventh goal, and Pochettino was questioned why would he subbed Kane in.“It was respect,” Pochettino said after the game according to Goal.Premier LeaguePremier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“Respect the people, respect the opponent. They’re not going to have many chances to see Harry Kane play here in a competition like the FA Cup.”“I think it was a great atmosphere. For different reasons, I decided to make a change and put Kane on the pitch but one of them is that,” he commented.“It’s important to show respect to the people here so they could see Harry Kane, who is an icon in English football. It is difficult in that division to see it. It was important to see him in action.”“Like all the competitions, we take it very seriously,” he added.“Of course sometimes you can win and sometimes you can lose, but always we are serious and respect the competition.”last_img read more