StatelineLine Cooperative

News

March 19, 2020

Notice to StateLine Cooperative members and customers,

StateLine Cooperative understands the importance of doing everything we can to ensure the safety and health of our customers and employees, particularly as we approach a critical time in agricultural production. StateLine also understands the need to maintain business operations to ensure you are able to continue to market grain, order feed and crop inputs in a timely manner.

StateLine, like most businesses in the area, are taking additional steps to ensure the safety and health of our customers and employees. This includes eliminating business travel and group meetings, asking employees to self-quarantine when appropriate, and social distancing.

In our effort to support social distancing, we are immediately implementing a reduction of access to our offices to help mitigate the risk of spreading COVID-19. We will only allow office visitors who have official business to conduct with our staff.

We also encourage you to use the phone, fax, mail, email or other electronic means as much as possible to conduct business with StateLine. We will make every effort to continue to provide you with the products and services you need in a timely manner to maintain your farming operations, while providing for the safety and health of you and our employees.

Please monitor our web site for additional information and operational notices regarding the rapidly changing environment we are all working and living within.

Thank you for your understanding and support in controlling the spread of the virus.

Bill Beukema, CEO

StateLine Cooperative

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Quotes retrieved on July 14, 2020, 06:49:47 AM CDT

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SLC Commentary

StateLine Cooperative Afternoon Comments July 13th

Corn North Burt: down 9 @ $2.89

The corn market traded lower on mostly favorable weather now through the balance of July and expectations for a pretty decent national average in this year’s corn crop. The USDA left their yield number unchanged at 178.5 bushels per acre in their production report last week. The September contract broke through its 50-Day MA of $3.30.

Closes: September at $3.28, down 9 ¼ cents, December at $3.35 ¾, down 9 cents, March at $3.46 ¼, down 8 ¾ cents, July at $3.58 ½, down 7 ¾ cents.
Most months gaps continued from the overnight trade (Sept/Dec 1 ¾ cent gap, Mar 1 ½ cent gap, May 1 ¼ cent gap, July ¾ cent gap and Dec ¼ cent gap).
Weekly export inspections were reported at 903 tmt, below last week at 962 tmt but near the top end of what the trade was looking for (600 tmt-1.2 mmt).
Crop conditions are expected to be 70% G/E (68-71), 1% below last week at 71% G/E.

Soybean: down 13 @ $8.22

The soybean market traded lower on technicals and favorable weather for the balance of July and concerns that heightened US/Chinese tensions will slow or halt additional purchases from China. Prices drew additional pressure from sharp losses in the products. The CFTC reported fund length in beans much larger than what the trade was thinking.

Closes: August at $8.73, down 14 ¼ cents, November at $8.74 ¾, down 16 cents, January at $8.80, down 16 ¼ cents and July at $8.84 ¾, down 12 ¼ cents. Products were weaker with meal sharply lower, down 8-9 bucks and oil d own 14 points.
Weekly export inspections were reported at 483 tmt, below last week at 522 tmt and in line with what the trade was looking for (350-700 tmt).
Crop conditions are expected to be 70% G/E (69-72), down 1% from last week at 71% G/E.
There was chatter about China possibly looking for US soybeans for October. There was no confirmation of that though.