•         Informa Acreage; Loan Activity; Cattle-On-Feed; Commitments 

 

•         POET ethanol plant in Indiana (Alexandria) halts corn deliveries due to a maintenance issue but continues to produce ethanol; will be receiving grain next week 

•         U.S. Soybean Export Council exec says U.S. growers to shift to soybeans from corn due to unseasonal rains 

•         U.S. Midwest farmland values up 15% in the 1st quarter compared to a year ago as demand for land remains strong but, the frantic pace of recent gains has slowed

 

•         Gulf SRW last seen at +55N (unch); HRW +134N (unch); gulf corn +87N (down 5); gulf beans +150N (down 5); PNW corn +143N (unch); PNW beans +185N (unch); Hereford rail corn market +129N (unch); Decatur corn at +55N (unch); Decatur soybeans +125N (unch); the western soymeal basis is weaker at +27N to +20N, the east unch at +40N, the gulf unch at +65N; the interior soyoil basis is unch at +120 in the west, unch at +170 in the east, the gulf unch at +300N

 

•         Saskatchewan seeding operations seen 8% complete of its various crops versus 22% a year ago and 16% average 

 

•         China’s soybean futures were higher in a broad rally of commodities and equities on hopes of a further government stimulus; average price of pigs rose last week snapping a 15-week losing streak as government stockpiling supported prices; demand for soymeal seen recovering as bird flu concerns ease and stabilized pig prices

 

The benchmark DCE September soybean contract is CNY14 higher at CNY4,795/ton

September DCE corn is CNY6 higher at CNY2,447/ton

September soymeal is CNY34 higher at CNY3,282/ton

September palm oil is CNY54 higher at CNY6,074/ton

September soyoil is CNY82 higher at CNY7,466/ton

 

•         Argentine exchange still sees 2013/14 wheat planted area at 3.9 mil hectares; corn harvest seen 46% complete versus 40% last week and 53% a year ago; soybean harvest 90% complete (89% a year ago, 83% a year ago)

•         Wire story reports Argentine soybean trade slows as farmers hold out for higher prices; exporters seen having bought 6.1 mt of soybeans versus 10.4 mt at this stage a year ago; local crushers have bought 10.7 mt versus 12.5 mt a year ago

 

•         Wire story reports Russia’s wheat exports may not rebound next year as the country tries to replenish low stocks; Agritel sees wheat exports at 10.4 mt next season, close to the 11.0 mt this season; USDA at 18.0 mt

 

•         Preliminary open interest in Wheat from Thursday was up 6,800 contracts; Corn up 3,500; Soybeans up 9,400; Soymeal up 5,100 lots, and; Soyoil up 2,100

 

•         Soyoil registrations were down 43 lots for a total of 10,233