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The Market is Doing its Job

first_img Facebook Twitter Previous articleISDA Announces David King as Local Foods Program ManagerNext articleUSDA Planning to Move Ahead with Second Beef Checkoff Gary Truitt By Gary Truitt – Oct 29, 2014 The Market is Doing its Job Facebook Twitter Home Market The Market is Doing its Jobcenter_img WheatWhile the action has been subdued in relationship to beans and corn, wheat is trying to climb higher once again this morning.  A higher close would make it three in a row but at least at this point, we have not been able to reach up to the highs posted this past Friday.On the news front there is little additional that I can add to the wheat story.  There are continued concerns about abnormally cold weather in Eastern Europe and into Russia.  That said, it was reported overnight that Russian exports to date are running over 32% above a year ago at this time. There are a few tenders floating around but I suspect the sales tomorrow morning will once again be on the low side as we are still not really competitive on the world stage.  Of course, no one expected the beans sales last week either. Harvest in Brazil has finally been able to pick up and it was reported that in the state of Parana they have reached 72% complete.  This would actually be 12% ahead of the pace last year.  Also, yesterday it was announced that Argentina would be able to supply at least 5.5 MMT of wheat to Brazil this coming year.I continue to believe that December futures will encounter very stiff resistance around the 5.40 level and should be within days of turning back lower. CornWhile this move has really been about meal and beans we have done a pretty reasonable job of forcing the corn short out as well. That said the failure to hold the gains yesterday may have been the first sign that the move has about run its course.  Prices have been firmer again overnight but so far have lacked the enthusiasm to reach back against yesterday’s highs. I understand that farmers have been rewarding this move as selling picked up notably yesterday.  We will have the weekly ethanol report issued later this morning, which should reflect a production of at least 900,000 bbd and export sales in the morning.  Like wheat, U.S. corn on a FOB basis is not competitive. We have scattered showers in the forecast across the upper Midwest over the next few days and cooler temperature but nothing that should create major disruptions with harvest.  Yield reports continue to range from average to exceptional.  I suspect once we have rolled the calendar over to November, the focus and discussion will revert to the next crop production estimate, which by the way will be the final one of the calendar year. Unless we see another shock move from meal, it would appear that this corn move has pretty well expended itself.  As such, I expect to see prices track lower then into at least Thanksgiving. SoybeansThe bean market surrendered the majority of days gains by the close yesterday and although we have bounced again overnight, we are contained within Tuesday’s action.  As I commented yesterday, the situation that we are facing in meal and beans is logistical in nature and the job of the market is to provide economic incentive to try and correct that.  While that can be accomplished by making other substitute products economically viable but also help to compensate for additional transportation expenses.  It has been reported that trucks from the eastern and southeastern feed market have been arriving at processing plants to haul meal.  Not as efficient as rail but should help alleviate the problem for the interim.  There has already been discussion of the competitiveness of bringing South American meal into the east coast and while probably not economically feasible at this point, could also provide an alternative.Rains have continued to fall through what had been the hot and dry regions of Brazil and it would appear the dry pattern has been broken.  The late arriving rains though have meant a late start to planting as well and it is estimated that it stands at less that half of a year ago with 15 to 17% of the country planted.  Parana is estimated to have 30% of the crop planted, Mato Grosso do Sul 24%, Matto Grosso at 16% and Goias at 8%.Farmer selling has reportedly picked up nicely over the past couple days. We could still easily see the bean market hold at these levels for the next day or so as the market tries to sort out these transportation issues but I continue to believe as with the corn and wheat trade that we should see the scale tip lower in November as we refocus on the upcoming November USDA estimates. www.thehueberreport.com/freetrial SHARE Oct 29, 2014www.thehueberreport.com/freetrial SHARElast_img read more

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Flooding crisis: City of Derry Airport updates flight schedule for Thursday

first_img Important message for people attending LUH’s INR clinic RELATED ARTICLESMORE FROM AUTHOR WhatsApp Facebook WhatsApp Flooding crisis: City of Derry Airport updates flight schedule for Thursday Google+ Pinterest The City of Derry Airport has published its revised schedule for ThursdayThe Airport was extensively damaged on Tuesday night following flash flooding which hit the North West, causing widespread devastation as many homes and businesses were destroyed.The airport was shut on Wednesday with flights having to be cancelled. The airport is due to reopen on Thursday afternoon with the following schedule:BMI Regional flight, BM1501 from City of Derry Airport to London Stansted, scheduled to depart at 06:45hrs on Thursday 24th August 2017 has been delayed and is now expected to depart at 14:30hrs.As a result, BMI Regional flight, BM1502, from London Stansted to City of Derry Airport, scheduled to arrive at 10:00hrs on Thursday 24th August 2017 has also been delayed and is now expected to arrive at 17:35hrs.Updates are available on the flight information section of the airport website: https://www.cityofderryairport.com/Ryanair flight, FR 7721 and FR7722 to and from Glasgow International Airport are currently scheduled to arrive and depart on time.Meanwhile, Clive Coleman, Contracts Manager with City of Derry Airport says sadly many people who have already traveled will be returning home from holidays to flood-damaged cars:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2017/08/airport..mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleUpdate on Road Closures in North Donegal – some unanticipated damage caused to local roadsNext articleBig treble at Kempton for Martin Harley News Highland Community Enhancement Programme open for applications Google+center_img Nine til Noon Show – Listen back to Monday’s Programme Homepage BannerNews Loganair’s new Derry – Liverpool air service takes off from CODA Twitter News, Sport and Obituaries on Monday May 24th Facebook Pinterest Arranmore progress and potential flagged as population grows By News Highland – August 23, 2017 Twitterlast_img read more

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21 Savage Reportedly Arrested By ICE In Atlanta

first_imgIn a statement to TMZ, the rapper’s attorney Dina LaPolt said, “We are working diligently to get Mr. Abraham-Joseph out of detention while we work with authorities to clear up any misunderstanding. Mr. Abraham-Joseph is a role model to the young people in the country — especially in Atlanta, Georgia and is actively working in the community leading programs to help underprivileged youths in financial literacy.”The story is currently developing.[H/T WSB-TV] ICE claims 21 Savage came to the U.S. from the U.K. as a teen and stayed past the duration of his visa. However, he has previously asserted that he was born in Georgia. 21 Savage has been arrested by U.S. Immigration and Customs Enforcement (ICE) in Atlanta, according to a report from WSB-TV Atlanta. The Atlanta-based rapper, born Shayaa Bin Abraham-Joseph. According to breaking reports, an ICE spokesperson noted that “Mr. Abraham-Joseph was taken into ICE custody as he is unlawfully present in the U.S. and also a convicted felon. Mr. Abraham-Joseph initially entered the U.S. legally in July 2005, but subsequently failed to depart under the terms of his nonimmigrant visa.”last_img read more

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Ninth edition of Malta Supreme 11-race Cycling Meet set for Saturday

first_imgTHE ninth Annual Malta Supreme 11-race Cycling Meet will pit the crème de la crème of Guyana’s cyclists against one another, as cycling action returns to the inner circuit of the National Park on Saturday morning from 09:30hrs in the various categories.The defending champion is Warren ‘Forty’ McKay who clinched victory last year in the Feature 35-Lap Schoolboys and Invitational race in a time of one hour, 13 minutes and 12 seconds.Christopher ‘Chicken Legs’ Griffith had finished second with Romello Crawford claiming third place.Meanwhile, Jaheim Henry (BMX 9-12 and 12-14), Ian Jackson (Veteran Over-50), David Hicks (12-14 Boys and Girls/Juveniles), Mario King (Mountain Bike) and Jessica Mohabir (BMX 6-9) are the other winners from last year.An official from Malta Supreme will be on hand to assist with the presentation of trophies and prizes.last_img read more

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