Today grain futures

Corn futures closed the day 6 to 7 cents lower. The latest Commitment of Traders data for the reporting period between July 30th – August 6th showed managed money spec funds increased their net short position in corn by 4,983 contracts bringing their total net short position to 113,072 contracts (a new record position since the Disag report was begun in 2006). The Dec ’13 contract posted a new low for the move of $4.52. The trade continues to position itself bearishly ahead of the August USDA report due out on Monday. The average corn yield estimate is 157.72 bpa, which is slightly above the July report figure of 156.50 bpa. Some are clearly trading 160+. CONAB has pegged production for 2012/13 out of Brazil at 80.3 MMT, compares to the current USDA estimate of 77 MMT. Brazilian acreage this fall is expected to be down as much as 10%.

Sep 13 Corn closed at $4.65 3/4, down 7 3/4 cents,
Dec 13 Corn closed at $4.53 1/4, down 6 1/2 cents,
Mar 14 Corn closed at $4.66 3/4, down 6 1/2 cents
May 14 Corn closed at $4.75, down 6 1/2 cents

Soybeans finished the day lower, declining 1 to 15 cents. The latest Commitment of Traders data for the reporting period between July 30th – August 6th showed managed money decreased their net long position in soybeans by 31,910 contracts bringing their total net long position to 45,580 contracts. The last trade date for August soybeans, meal, and oil is Aug 14th. The bulls were unable to follow through on early strength, as the trade looked to position itself ahead of August USDA report due out at 11:00am CDT on Monday. The average soybean yield estimate is 43.47 bpa, which is slightly below the July USDA report figure of 44.50 bpa.

Aug 13 Soybeans closed at $13.40 3/4, down 15 cents,
Sep 13 Soybeans closed at $12.18 1/2, down 9 1/4 cents,
Nov 13 Soybeans closed at $11.82 1/4, down 2 cents,
Jan 14 Soybeans closed at $11.88, down 1 1/4 cents,
Aug 13 Soybean Meal closed at $420.50, down $2.00,
Aug 13 Soybean Oil closed at $41.40, down $0.25

Wheat futures finished 1 to 7 cents lower on the day. A moderate decline in corn prices provided a negative influence. The latest Commitment of Traders data for the reporting period between July 30th – August 6th showed managed money increased their net short position in Chicago wheat by 6,567 contracts bringing their total net short position in Chicago wheat to 47,335 contracts. The DTN National Soft Red Wheat Index closed at $6.13 yesterday, which is a new low for 2013.

Sep 13 CBOT Wheat closed at $6.33 1/2, down 7 3/4 cents,
Sep 13 KCBT Wheat closed at $6.97 1/4, down 4 3/4 cents,
Sep 13 MGEX Wheat closed at $7.32, down 1 1/2 cents
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Certifying bees organic poses challenges | capitalpress.com

Fences don’t stop bees, so a farmer can’t manage them organically the same as they would livestock.

That’s something the USDA’s National Organic Standards Board must take into account as it develops organic standards for bees. The need for certification has become more important as the commercial organic honey industry has grown despite the lack of standards. Since bees are animals, the task has fallen to the board’s Livestock Committee.

Sam Jones-Ellard, public affairs specialist at the Agricultural Marketing Service, said certifiers have been using existing livestock standards as their baseline. No timeline has been established for the proposed rule, he said, but once it is published, stakeholders will have the opportunity to comment.

Among the recommendations of the board’s Livestock Committee:

* The practice standard will regulate the production of bee products, but not require the use of organic bees for organic crop production.

* An organic system plan will include a map showing hives; a forage zone, including crops grown, bloom periods, topography and climatic conditions; a surveillance zone, describing sources of potential contamination within 2.2 miles of the forage zone; and water sources.

* Because bees may forage on non-organic land in the surveillance zone, the plan must demonstrate that sufficient organic forage is available within the forage zone throughout the year. The plan must also demonstrate that crops in the surveillance zone offer minimal risk to organic integrity.

Few pesticides are approved for organic agriculture, but neighbors of organic farms aren’t necessarily concerned about restrictions.

Jacqueline Freeman, co-owner of Friendly Haven Rise Farms near Vancouver, Wash., said, “The ag industry and home consumers have chemicals available that are known to harm bees. Their approval hinges on disclaimers like ‘don’t use on windy days’ or ‘not when bees are present.'”

That disclaimer means little when bees often travel two miles from the hive to gather pollen.

“If they bring home pesticides, it can kill the entire hive,” she said.

Reducing the overall use of pesticides helps protect pollinators, but even some substances approved for organic management are toxic to them, according to the Xerces Society, which studies invertebrates and their habitats. Among those substances are diatomaceous earth, insecticidal soap, horticultural oil, pyrethrins and copper sulfate.

Xerces also said tillage disrupts native bees, which pollinate many crops and contribute $3 billion to the U.S. agricultural economy. About 70 percent of native bees live underground. But many organic growers, who cannot use conventional herbicides, rely on tillage as a primary weed-control strategy.

Freeman said she nurtures native bees and is aware of their vulnerability to tillage. The practice may be a common control method for blackberries in the Pacific Northwest, but goats are her “blackberry department,” she said.

When it came time to repurpose one compacted area to bee habitat, aerating broke up the thatch and gave the seed good contact with the soil. Seed drills are another options, she said.

KS

Today grain news

Corn futures finished the day with gains of 1 to 3 cents across the board. The Rogers Index fund is rolling out of September futures to December today and tomorrow. The Sept/Dec spread widened for the second day in a row to finish at $0.20. Cash markets also added support with reports of ethanol bids surfacing. Weekly export sales due out tomorrow morning are expected to come in near 100-200,000 MT for old crop, and 300-400,000 MT for new crop. This is in comparison to the previous week which showed net reductions of 27,900 MT for old crop, and net sales of 515,900 MT for new crop. Earlier this morning, South Korea’s NOFI group cancelled their most recent tender for 70,000 MT of Corn for January 25th delivery. According to EIA data, ethanol production averaged 832,000 barrels per day (b/d) — or 34.94 million gallons daily. That is down 21,000 b/d from the week before and the lowest in 16 weeks. The four-week average for ethanol production stood at 861,000 b/d for an annualized rate of 13.12 billion gallons. Stocks of ethanol stood at 16.5 million barrels. That is a 4.7% decrease from last week and bull friendly. Imports of ethanol were 13,000 b/d, down significantly from last week. Year-to-date imports stood at 175.7 million gallons according to EIA weekly data. EPA expects 666 million gallons of imports will be needed to meet the 2013 advanced biofuel standard.

Sep 13 Corn closed at $4.99, up 3 1/2 cents,
Dec 13 Corn closed at $4.79, up 1 1/2 cents,
Mar 14 Corn closed at $4.91 1/2, up 1 1/4 cents
May 14 Corn closed at $4.99 1/4, up 1 1/4 cents

Soybeans closed the day 3 to 24 cents higher, with the August contract notching impressive double digit gains. Concerns of tight old crop supplies still linger and helped to support the front end of the board. After narrowing to $1.2025 late last week, the August 13/Nov 13 spread has widened back out to $1.6775. Weekly export sales due out tomorrow are expected to come in near 450-600,000 MT for new crop beans. This is in comparison to 665,200 MT the previous week. As we head into the pod fill stage, weather forecasts remain favorable. Earlier this morning, private exporters reported to the USDA export sales of 120,000 MT to an unknown destination for the 2013/14 marketing year.

Aug 13 Soybeans closed at $13.74, up 24 cents,
Sep 13 Soybeans closed at $12.49 3/4, up 3/4 cent,
Nov 13 Soybeans closed at $12.06 1/4, up 3 1/4 cents,
Jan 14 Soybeans closed at $12.11, up 3 cents,
Aug 13 Soybean Meal closed at $435.10, up $5.90,
Aug 13 Soybean Oil closed at $42.09, down $0.02

Wheat futures closed the day with moderate gains, with the Kansas City contract leading the way up 10 cents. Weekly export sales released tomorrow morning are expected to be between 400-500,000 MT. This is in comparison to 661,400 MT the previous week. The Chicago Wheat Dec13/Corn Dec13 continued to edge higher, adding another 9 cents to finish at $1.9800. Egypt’s GASC bought 240,000 MT of Romanian and Ukrainian Wheat for the delivery period Sept 11th to Sept 20th. This compares to the low made on June 27th which was $1.5275. The Wheat trade has been under the influence of bullish export news which has helped to stabilize the market amid declining Corn prices. This is tied to the expected 5 year low in world ending stocks in 2014. Bears will counter that supplies in major exporter countries are up despite the overall decline. Brazil import demand is also deemed supportive.

Sep 13 CBOT Wheat closed at $6.64 1/4, up 9 cents,
Sep 13 KCBT Wheat closed at $7.06 3/4, up 10 1/2 cents,
Sep 13 MGEX Wheat closed at $7.41 1/4, up 4 cents

Today grain future

Corn futures closed the day 2 to 3 cents lower. After the close, USDA showed 16% of the US crop is silking, well behind the 35% average for this date. Condition ratings in the top category were unchanged from last week, with 17% of the crop reported in Excellent condition. However, the Brugler500 index declined 4 points from 371 to 366 due to declines in the other rating categories. Weekly export inspections came in at 8.867 (mbu) vs. 16.338 (mbu) the previous week. Market year date figures are now 615.087 (mbu) vs. 1,387,987 (mbu) the previous year. Corn opened 5-6 cents lower on Sunday night as at least some of the Plains and WCB got showers even if not the expected accumulations. Traders are expecting a typical (for July) decline of 1-2% in the USDA crop condition ratings to be released this evening.

Sep 13 Corn closed at $5.40 3/4, down 3 1/4 cents,
Dec 13 Corn closed at $4.98, down 2 3/4 cents,
Mar 14 Corn closed at $5.10 1/4, down 2 1/2 cents
May 14 Corn closed at $5.18 1/4, down 2 1/4 cents

Soybeans closed the day sharply higher, with the front month August contact leading the way adding 29 cents, while November finished 13 higher. After the close, USDA announced the latest crop condition ratings in the top category were unchanged from last week, with 13% of the crop reported in Excellent condition. However, the Brugler500 index declined 1 point. August Meal futures also added impressive (or horrifying depending on your perspective) gains today, closing $20.00 higher. Weekly soybean export inspections came in at 2.847 (mbu) vs. 3.08 (mbu) the previous week. Current market year to date figures are now at 1,295,661 (mbu) vs. 1,266,805 (mbu) from the previous year. Old crop beans continue to be supported by meal demand and limited supplies of soybeans to crush.

Aug 13 Soybeans closed at $15.20 1/4, up 29 1/2 cents,
Sep 13 Soybeans closed at $13.48 3/4, up 22 3/4 cents,
Nov 13 Soybeans closed at $12.88 1/2, up 14 1/2 cents,
Jan 14 Soybeans closed at $12.92 1/2, up 13 1/4 cents,
Aug 13 Soybean Meal closed at $502.40, up $20.00,
Aug 13 Soybean Oil closed at $45.41, down $0.09

Wheat futures closed 3 to 4 cents lower on the day. USDA showed 75% of the winter wheat crop is harvested, just below the76% average. Spring wheat is 85% headed vs. the 88% average for this date. Spring wheat condition ratings dropped to 68% good/ex vs. 70% last week. Weekly export inspections came in at 23.136 (mbu) vs. 24.459 (mbu) the previous week. Current market year to date figures are now at 159.761 mbu vs. 127.921 the previous year. The Ukrainian government has updated its estimate of wheat production for 2013 to 15.6 MMT. The current USDA estimate from the July WASDE report is 19.5 MMT.

Sep 13 CBOT Wheat closed at $6.59 3/4, down 4 3/4 cents,
Sep 13 KCBT Wheat closed at $7.02, down 3 1/4 cents,
Sep 13 MGEX Wheat closed at $7.46 3/4, down 3 3/4 cents

Today grain futures

Corn futures closed mixed with the front month September contract up 3 cents while the rest of the board finished steady. The latest Commitment of Traders data for the reporting period between July 9th – July 16th showed managed money decreased their short position by 18,505 contracts bringing their total net short position to 37,262 contracts. South Korea was said to be in the market buying 165,000 MT’s of corn from South Africa and the Black Sea region. The shorter term 5-day forecast calls for 1” of rain over 5 days exactly on the dry bullseye in NE and IA. If it happens, crops will be better able to tolerate the heat in the extended forecasts. China has been aggressively buying DDGs to go with large quantities of corn and SRW wheat.

Sep 13 Corn closed at $5.44, up 3 cents,
Dec 13 Corn closed at $5.00 3/4, unch,
Mar 14 Corn closed at $5.12 3/4, down 1/4 cent
May 14 Corn closed at $5.20 1/2, down 1/4 cent

Soybeans finished sharply higher with the August contract leading the way up 21 cents, while the back months closed with gains of 8 to 9 cents. The latest Commitment of Traders data for the reporting period between July 9th – July 16th showed managed money increased their long position by 12,244 contracts bringing their total net long position to 124,432 contracts. August Meal futures also closed sharply higher, gaining $12 on the day. Earlier this morning, soybean basis in Des Moines was reported as high as $2.63 over the September contract. Old crop continues to be supported by meal demand and limited supplies of soybeans to crush.

Aug 13 Soybeans closed at $14.90 3/4, up 21 1/2 cents,
Sep 13 Soybeans closed at $13.26, up 9 3/4 cents,
Nov 13 Soybeans closed at $12.74, up 8 1/4 cents,
Jan 14 Soybeans closed at $12.79 1/4, up 8 1/4 cents,
Aug 13 Soybean Meal closed at $482.40, up $12.00,
Aug 13 Soybean Oil closed at $45.50, down $0.02

Wheat futures finished off the best levels of the session, but still managed to closed steady to 4 higher with the Chicago contract . The latest Commitment of Traders data for the reporting period between July 9th – July 16th showed managed money decreased their short position by 13,583 contracts bringing their total net short position to 34,261 contracts. showing the most strength. Earlier this morning, private exporters reported to the USDA export sales of 120,000 metric tons of SRW to China for the 2013/14 marketing year which is a positive factor. South Korea was also said to have been buying feed wheat from the Black Sea region. Some US ethanol plants are again buying new crop SRW wheat to extend their corn supplies into late September. Small quantities can be used without making significant changes to operations.

Sep 13 CBOT Wheat closed at $6.64 1/2, up 4 cents,
Sep 13 KCBT Wheat closed at $7.05, up 2 3/4 cents,
Sep 13 MGEX Wheat closed at $7.50 1/4, unch,