Market News    Click here for the    Weather, Futures,    Real-Time Quotes,    Research, and more...    Home    Management Team    Mgmt Notes / News    Market Commentary    Daily Grain Prices    Locations    Services:      >Trucking      >Feed      >Agronomy      >Grain Dept.      >Lumber Dept.    Weather    Classifieds    History of Top-Ag    Board of Directors    Useful Links    Admin 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 Scott, Mike, or Seth at 618-243-5293 to get set up. Market Commentary by TopAg.net: (Daily Grain Prices Below) Date: March 9, 2010 Headline: Closing Grain Comments Comments: After having weakened overnight along with crude oil & gold as the US dollar rallied, grains quickly extended those losses in early Tuesday trading. Positioning for Wednesday's USDA reports was the dominate activity during the session as demand news remained sluggish. Although Corn Belt farmers braced for rain, snow melt & the likelihood of flooding during the next week, rallies were capped by ideas that harvest weather will improve in northern Brazil for the next week, bringing hedge pressure. Corn & wheat rallied off their early lows into late morning, but then faded back to retest their lows into the close. Soybeans avoided the late session break to set new session highs just ahead of the close. May corn futures settled with a bottom-range 6c loss--equaling a 4-week low close. May soybeans rebounded to a top-range 1/2c loss. May CBOT wheat ended with a bottom-range 5.5c loss--a 5-week low close. Japan will tender for 3.123 mb of US wheat, .919 mb of Canadian wheat & 1.543 mb of Australian wheat for April-May shipment on Thursday. European buyers purchased 1.26 mb of corn from Uruguay recently, but feed importers there remain concerned that their GMO import rules could make acquiring grain difficult by fall. After the close, Egypt announced it was seeking optional-origin wheat tonight. Citing favorable weather, Brazil's crop supply agency Conab increased its soybean forecast by .84 mmt to a record-high 67.57 mmt this morning. It increased its corn forecast just .02 mmt higher to 51.38 mmt. Wheat production was left at 5.03 mmt--unchanged from February. Meanwhile, Brazil's census bureau estimated their bean crop at 66.9 mmt--up .8 mmt from their previous estimate. Most analysts expect USDA to report steady/higher South American production forecasts in its 7:30 am Wednesday reports. The March Supply/Demand reports are typically not big market moving events. Tomorrow's report is unique in that USDA will re-survey producers who had not completed corn harvest by the January report. On Dec 20, 5% of the US corn crop remained in the field with N Dakota (32%), S Dakota (12%), Wisconsin (12%), Minnesota (7%), Nebraska (7%) & Pennsylvania (7%) especially slow. USDA will also resurvey bean producers in N Carolina & three other states to check for late harvested bean yields. Analysts expect a 70 mb cut in corn & 11 mb drop in bean production versus January. Look for corn exports to be trimmed. Basis levels were stable tonight as the industry prepared for the USDA data. River barge freight levels have declined about 3c the past couple days, but Gulf bids have also had a weaker tone. Soymeal basis has fallen up to $6/ton at Central Illinois soybean processors in the past week as soymeal export demand has also begun to slide. 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. Give Scott, Mike or Seth a call at the Okawville elevator at 243-5293 & 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 : 3/10/10 Commodity/Location Cash Price New Crop Jan. 2011 Wheat: Addieville $ 3.76 $ X.xx $ 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 same as above same as above same as above Corn: Addieville $ 3.41 $ 3.51 $ 3.61 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 $ 9.53 $ 8.83 $ 9.09 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!!!! Powered by: Hi-Tek Solutions, Highland, IL. Webmaster: Keith Wineinger.