Home Page: Would you like market prices sent to your cell phone daily? We can text the markets to you 3 times a day to help keep you aware of market direction. And it’s FREE!! Contact Mike at 618-224-7332 to get set up. In Feb. 2005, Okawville Farmers Elevator & Trenton Co-op consolidated their operations to create TOP AG Cooperative, with the goal to provide our customers the best possible products and services available. Market Commentary by TopAg.net: (Daily Grain Prices Below) Date: Jan. 26, 2012 Headline: Closing Grain Comments: Comments: Grain futures extended overnight gains early in today's trading session, but then faded into the close as profit-taking weighed on values. Corn initially found support on strong weekly export sales data & worries about South American crop losses. Soybeans exports were a bit disappointing, but declining South American yield forecasts helped underpin prices. Brutally cold weather in Russia & parts of the Ukraine fueled winter wheat crop fears, encouraging speculative short-covering that buoyed wheat futures today. When spillover buying from yesterday's Fed's policy announcement ran out of steam, outside markets weakened & grains lost some of their luster. March corn futures gave back an early session double-digit bounce to end unchanged, March beans settled with a mid-range 9.25c gain & March CBOT wheat held on to an upper-range 12.25c rally on Thursday. In export news, Japan will seek 1.945 mb of US wheat, 1.719 mb of Canadian wheat & 1.855 mb of Australian wheat for March shipment tonight. This morning's USDA Weekly Export Sales data was above expectations for corn (40.97 mb vs 23.6-39.4 mb guessed), disappointing for soybeans (21.763 mb vs 25.7-40.4 mb forecast), & within the range of guesses for wheat (22.737 mb vs 16.5-27.6 mb), soymeal (126,600 mt vs 100,000-200,000 mt) & soyoil (2,600 mt vs 0-15,000 mt). Mexico (10.397 mb), Japan (7.807 mb) & South Korea (7.346 mb) were last week's largest corn buyers. China booked 2.866 mb of corn last week, 2.362 mb of it switched from unknown destinations. Total Chinese purchases for 2011-12 now total 139.134 mb with 94.019 mb of it now shipped. US corn exports are on pace to exceed USDA's 1,650 mb export forecast. Last week's soybean sales went primarily to China (9.681 mb), Mexico (5.649 mb) & Egypt (2.205 mb). Only 427.33 mb of soybeans have been sold since Sept. 1st--the sales slowest pace since 1998-99. The US needs to pick up market share from South America this summer if USDA's 1,275 mb export forecast is to be reached. Wheat sales for the week ending January 19 went mainly to South Korea (7.202 mb), Mexico (4.659 mb), Japan (3.149 mb) & Yemen (1.837 mb). Soft red winter wheat sales totaled 3.502 mb--virtually all of it to Mexico. Mexico has thus far purchased 39.6% of all our SRW wheat exports in 2011-12. US wheat exports remain on track to exceed USDA's 975 mb export forecast. Brazil state agencies again lowered their crop forecasts today. In #2 producer Parana, that state's ag department lowered for the second time this month its production estimate for soybeans (11.57 mmt, -1.03 mmt) & corn (6.0 mmt, -0.4 mmt). In December, forecasters had pegged soybean output 14.1 mmt & corn production at 7.4 mmt. Parana harvested 15.4 mmt of soybeans & 6.0 mmt of corn in 2011. In #3 bean producing state Rio Grande do Sul, its state ag agency lowered its soybean forecast by .75 mmt to 8.0 mmt & corn estimate by 0.3 mmt to 3.0 mmt. Last year, RGDS farmers produced a record 11.7 mmt of beans. In its first production estimate of the season, Argentina's Buenos Aires Grains Exchange projected Argentine soybean production at 46.2 mmt & corn output at 22 mmt. USDA reports Argentina harvested 49.0 mmt of beans & 22.5 mmt of corn last year, & has forecast this year's output of soybeans at 50.5 mmt & corn at 26.0 mmt. For the second consecutive day, barge freight soared higher, pressuring regional corn & soybean basis levels. Locally, corn basis dropped 8c, bean basis declined 5c & wheat basis was steady. Would you like CBOT futures prices reported to your phone? Top Ag can send you nearby & harvest futures prices for corn, soybeans & wheat at 9:45 am, 11:15 am & 1:45 pm each day. We provide the service for free, but you may have to pay for text messages--depending upon your phone plan. Call Scott or Seth at Okawville at 243-5293 or Mike at Trenton at 224-7332 & we'll get you set up! "Closing Comments" are written by David Marshall, Toay Commodities Futures Group LLC, Nashville, IL. To learn more about his farm marketing advisory or commodity brokerage services, contact him at dmarshall@tcfg-llc.com or call (618) 327-4370 (voice/fax) or (618) 314-0918 (cell). This commentary is not intended for specific trading strategies. We strive to insure this information is reliable, but we cannot guarantee its accuracy or completeness. Commodity trading involves risks. You should fully understand those risks before trading. Your Daily Grain Prices for : 1/26/2012 Commodity/Location Cash Price New Crop Jan. 2013 Wheat: Addieville $ 6.46 $ 6.55 $ X.xx Mascoutah same as above same as above same as above Okawville same as above same as above same as above Pierron same as above same as above same as above St. Libory same as above same as above same as above Trenton Trenton same as above same as above Corn: Addieville $ 6.33 $ 5.27 $ X.xx Okawville same as above same as above same as above Pierron same as above same as above same as above St. Libory same as above same as above same as above Trenton same as above same as above same as above Soybeans: Addieville $ 12.18 $ 11.83 $ X.xx Okawville same as above same as above same as above Pierron same as above same as above same as above St. Libory same as above same as above same as above Trenton same as above same as above same as above PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE. PLEASE CONTACT SCOTT, MIKE or SETH FOR PRICE QUOTES FOR DIRECT DELIVERY TO RIVER TERMINALS or PICKED UP AT YOUR BIN or FIELD. CALL US WITH YOUR PRICING OFFERS!!!! 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