Tax Information Returns (1099's) were mailed out 1/30/12.
The mailing included a report listing Gross Grain Payments to you in Calender Year 2011.
Please review the information carefully and let us know as soon as possible if you believe our records are in error.
The deadline for us to submit the information is April 2, 2012.
Thank you for using Premier!
FARM BIN DELIVERIES: Now accepting corn and beans to be settled toFREE PRICE LATER.
It will be free through August 31, 2012 at which time it will incur the Harvest 2012 rate.
Grain for free price later will be accepted based on space availability per location.
Please contact your delivery location manager to make your intentions known.
2/22/12 MARKET COMMENTS: After a weaker opening the markets firmed back up gaining back all of yesterdays loses on new Chinese purchasing rumors. The USDA AG OUTLOOK will be going on this Thursday and Friday. Corn closed up 8 3/4, soybeans up 1 1/4, and wheat down 2-4. The outside markets were mixed with crude oil is trading mixed, gold higher, and the dollar mixed.
Corn steadily strengthened during the second half of today’s session and closed moderately higher, with old crop contacts finishing near the day’s highs. New crop months were mostly lower. CH settled 8 ¾ better and CK gained 7 ¾. Funds, which had been light sellers early in the session, were buyers of corn late in the day. Good demand from end users and a less than robust amount of farmer selling continue to support the market. Traders are expecting strong export sales in the weekly report (delayed by the Holiday to Friday) as U.S. corn is competitive on the world market with other grain and feed wheat including Australian feed wheat. Midday weather forecasts reduced snowfall amounts predicted to fall on the Northern Plains later this week. Soil moisture levels are low across most of this region. Market focus typically shifts from old crop to new crop prospects around March 1st, so the emphasis is switching from South American weather to U.S. weather. Today’s rally was achieved without help from outside markets, which were steady/lower, and the Dollar, which was stronger throughout the day.
Beans rallied during the closing minutes of today’s market, erasing earlier losses to finish slightly higher. SH was 1 ¼ higher, with SK gaining 1 ¾. Stronger wheat and corn markets provided support and helped offset pressure from a firmer Dollar. Strong demand and concern about the size of the South American crop also underpinned the trade. Midday weather forecasts reduced rain amounts for Argentina and Southern Brazil over the next week, leading to talk that the Brazilian crop may be less than 68 MMT’s and that the reduced production may lead to record exports of U.S. soybeans during the 2012/13 crop year. The USDA did announce this morning that China had purchased an additional 175,000 MT’s of U.S. new crop beans. Reportedly, ships totaling capacity of 175 million bushels are waiting to load beans at South American ports. Commercials are said to be struggling to buy beans from farmers, which has pushed South American basis levels higher and makes U.S. PNW bean prices competitive. The trade is looking for estimates of new crop corn and bean acreage during the day tomorrow from the USDA’s Ag Outlook Forum, which will run through Friday.
Look for choppy markets to continue. HAVE A GOOD DAY
The information contained in this report is believed to be reliable but is not guaranteed to accuracy or completeness by Premier Cooperative, Inc. This report is provided for information purposes only and is not furnished for the purpose of, nor intended to be relied upon for specific trading in commodities here in.
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