Announcements

Change in Cash Bid display.
Cash bids on our website update with the electonic futures trading. 


The markets will update 21 hours a day from 5 pm until 2 pm the next day starting SUNDAY MAY 20, 2012.!!!           5 DAYS A WEEK.
 

Futures
@C - CORN - CBOT
Month Last Change Open High Low Time More
Jul 12 635'4s 10'4 622'6 638'4 619'4
Sep 12 546'4s 8'0 537'2 551'6 532'4
Dec 12 537'0s 8'6 527'2 542'4 522'0
Mar 13 546'4s 7'2 535'0 552'2 533'4
Dec 13 539'0s 1'0 534'0 546'0 532'0
@S - SOYBEANS - CBOT
Month Last Change Open High Low Time More
Jul 12 1405'0s -33'0 1435'0 1438'6 1405'0
Nov 12 1288'0s -18'4 1304'0 1317'4 1288'2
Jan 13 1286'0s -18'0 1302'0 1314'2 1286'6
Nov 13 1157'0s -9'4 1167'0 1173'6 1157'2
@DJ - DJ INDUSTRIAL AVERAGE - CBOT
Month Last Change Open High Low Time More
Jun 12 12335.00s - 78.00 12420.00 12477.00 12355.00 05/18
My Custom Markets
Symbol Last Change Open High Low Time More

Closing Market Comments

5-18-12




 

Warm, dry weather forecasts for the Midwest corn belt and the wheat growing areas of both Russia and China triggered the buying today. Funds purchased up to 4000 contracts of each, corn and wheat in a moderate volume trade. It appears the best chance for rain is this weekend in the corn belt and then a high pressure ridge will dominate the southern half of the corn belt through the last week of May. This kind of weather forecast has already caused analysts to back off their record yield forecasts for the 2012 corn crop. CN, coupled with the high basis values have taken the flat price levels to the producers back to the highs and has generated some cash selling as this was the first day in a while that Chicago saw a pickup in commercial selling. For the week, CN gained 54 cents and CZ was 32 cents higher. WN gained nearly a $1 for the week. The outside markets were on the quiet side today as the U.S. dollar is mostly unchanged while crude oil down a $1. Oil has fallen nearly $15 this month in the June contract.


 

 

The soy complex under selling pressure today even with the funds seen as modest buyers. It appeared that it was either new/old spreading or simply an exit from the SN after the recent Chinese business. The fact that China is selling bean out of their government reserve stocks also has to be a factor in the overall weakness in the complex. What also might become a trade issue is the U.S. Commerce Dept. ordering tariffs on Chinese solar panels imported into the U.S. An overall fear of a slowdown in the Chinese economy also a factor. Unlike corn, soybean producer selling remained very quiet today. SN ended the week by only losing 1 cent while the SX lost 33 cents.

 

*CME’s new trading hours will begin this weekend. Sunday night trade will begin at 5 pm and continue until 2 pm Monday. The break will be 2-5 pm on weekdays. Pit trade will continue its normal hours, 9:30-1:15 with a 1:15 settlement.


 
 
 

News from the Coop
 NOW PLANNING TO START ON SUNDAY MAY 20, 2012!!
THE CME/CBOT has proposed changes to extended trading hours that were introduced recently.
The CME/Chicago Board of Trade has proposed to trade the electronic markets for 21 hours a day  Starting Sunday June 3, 2012 at 5:00 pm, the market will be open from 5:00 p.m. Sunday until 2:00 p.m. on Monday.   It will open at 5 each evening and close at 2:00 p.m. the next day.  It will end the week at 2:00 p.m. on Friday.

For Assumption Coop this should mean that we will issue cash bids in the afternoon much like we have always done.  They will be in effect until 5:00 in the evening when the markets start trading again. 
We will continue to have the bids on our website update with the electronic futures quotes for 21 hours a day.  

You may want to consider using priced Offers to market your corn and beans and wheat.   If we put an offer in for you it can be working for 21 hours a day now.

See news release below.
Randy Sexton
 
News Release Issued: May 17, 2012 10:50 AM EDT
CME Group Introduces New CBOT Grain and Oilseed Trading Hours in Support of Grain Industry Participants
CHICAGO, May 17, 2012 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced measures to help farmers, ranchers and commercial market participants prepare to transition to expanded electronic trading hours for CBOT grain and oilseed futures and options on CME Globex. CME Group will now offer expanded market access to a variety of CBOT futures and options 21 hours per day, pending CFTC certification.  
"What sets CME Group apart is our close working relationship with the grain industry, who have made our grain and oilseed futures the benchmark risk management products," said Tim Andriesen, Managing Director, Agricultural Commodities and Alternative Investments, CME Group. "That's why, in response to significant feedback for this customer segment, we're further amending CBOT grain and oilseed trading hours to 5 p.m. to 2 p.m. CT Sunday through Friday. They have clearly communicated that these hours best meet their risk management needs."
These measures are in part the result of collaboration between CME Group, the National Grain and Feed Association (NGFA) and the North American Export Grain Association (NAEGA) to address these changes and help the grain industry prepare for the transition.
"This action by the CME Group demonstrates the value of collaboration between the exchange and users of futures and options markets who rely heavily on the CBOT contracts to hedge marketplace risk," said Randall C. Gordon, acting president of the National Grain and Feed Association. "This important change will provide time during normal business hours for grain, feed and grain processing operations and other merchants to reconcile their trading accounts and perform other required accounting and back-office operations without incurring the significant additional expense of hiring or providing overtime to employees performing these important functions."
"We commend the CME Group for making this change before implementing its expanded electronic trading hours," Gordon added.  "We look forward to continuing to discuss with the CME Group, other exchanges and other parties possible ways to address industry concerns about USDA reports being released during market hours."
Electronic trading hours for CBOT Corn, Mini-Sized Corn, Soybeans, Mini-Sized Soybeans, Wheat, Mini-Sized Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and Ethanol futures and options plus all related calendar spread options and inter-commodity spread options will be extended to:
  • Sunday to Friday, 5:00 p.m. to 2:00 p.m. CT
Daily settlements will continue to be based on market activity at or around 1:15 p.m. CT each day. Additionally, open-outcry trading hours will continue to operate from 9:30 a.m. to 1:15 p.m. CT Monday to Friday.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk.  CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.  CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago.  CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc.  CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc.  All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.  CME-G
Please see the attached memo from the CME Group. 

as of 5-18-12 they have revised this to say that they are planning to statrt trading 21 hours a day on Sunday May 20, 2012.!!

They have just released this FAQ memo on the extended trading hours, and announced that they are hoping to launch the extended hours on Sunday, June 3rd with a trade date of Monday, June 4th.
 
Randall L. Sexton
General Manager
Assumption Cooperative Grain Company
104 West North Street
Assumption, IL  62510
217-226-3213
Cell 217-412-1750
Fax 217-226-3244
 


Local Radar
Assumption, IL
Chg Zip Code: 
 
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Assumption, IL
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Sunday
Monday
Tuesday
Wednesday
Thursday
High: 88°F
Low: 65°F
Precip: 74%		 High: 74°F
Low: 58°F
Precip: 20%		 High: 78°F
Low: 53°F
Precip: 0%		 High: 82°F
Low: 56°F
Precip: 0%		 High: 87°F
Low: 63°F
Precip: 0%
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Assumption, IL
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Temp: 73oF Feels Like: 77oF
Humid: 65% Dew Pt: 61oF
Barom: 30.03 Wind Dir: SSE
Cond: N/A Wind Spd: 8 mph
Sunrise: 5:38 Sunset: 8:09
As reported at TAYLORVILLE, IL at 11:00 PM
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