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. Home Page: 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: Sept. 2, 2010 Headline: Closing Grain Comments: Comments: Top Ag Closing Prices: 09/02/10 Cash Jan 2011 Corn: $4.02 $4.43 Soybeans: $9.77 $10.25 Wheat: $6.00 $6.56 Prices are subject to change without notice. Please call Scott, Mike, or Seth at 243-5293 to get off-the-farm or direct-to-terminal bids. Top Ag elevators are open Monday thru Friday, 8:00 am-4:30 pm. Closing Comments: 09/02/10 After having traded on both sides of unchanged overnight to mixed results, corn & beans traded lower & wheat stayed higher for much of Thursday's session. Despite a strong weekly export sales report, corn & beans initially had trouble sustaining gains as traders remained nervous about US harvest prospects ahead of next Friday's USDA production revisions. Wheat followed thru on Wednesday surge on overnight comments from Russian leaders. Russian Prime Minister Vladimir Putin said that the Russian grain export ban will be extended thru the harvest of next year's crop--perhaps Oct 2011. Russian President Medvedev also ordered law enforcement officials to prevent speculators from driving up food prices. Argentina's Rosario Grain Exchange forecast for a 9.0-10.5 mmt wheat crop--1.5 mmt below USDA's August forecast--& reports that the Ukraine exported only 1/3 as much wheat in August as last year supported ideas the US will see plenty of export demand. Late-session buying eventually pushed Dec corn futures to a top-range 3/4c gain & Nov beans to a top-range 3.5c recovery. Wheat futures labored after setting highs early. Dec CBOT wheat held on for a mid-range 5c gain, but July wheat edged lower past the noon hour to a 3/4c loss. Today's export news was friendly. Overnight, Japan bought 5.102 mb of US wheat for November shipment. USDA also reported the sales this morning of 4.724 mb of corn & 3.674 mb of soybeans to Egypt. Today's USDA Weekly Export Sales report indicated better than expected sales for corn (65.28 mb), wheat (37.629 mb) & soymeal (378,400 mt) & as expected sales for beans (22.557 mb) & soyoil (12,300 mt). New-crop corn sales were pegged at 66.402 mb, & went mostly to unknown destinations (33.395 mb) & Japan (20.282 mb). New-crop bean sales were 22.523 mb & bought mainly by China (6.432 mb), Thailand (4.630 mb), Taiwan (2.443 mb) & Mexico (2.219 mb). Last week's biggest wheat buyers were Nigeria (6.309 mb), Turkey (4.622 mb), Mexico (3.355 mb) & Egypt (3.061 mb). Soft red winter wheat sales remained relatively sluggish at just 2.003 mb, & bought mostly by Mexico. When USDA reports marketing week #1 sales totals for 2010-11 next Thursday--a number that will includes sales from Aug 28-Sept 2, all previously made new-crop sales & carryover of unshipped 2009-10 sales--corn will likely start out with the second largest total since 1995 & bean sales will be reported as the best ever. Looking ahead, markets will react on Friday to outside markets & pre-weekend hedge pressure. The Labor Dept will release its Monthly Employment report at 7:30 am tomorrow. Analysts on average believe non-farm payrolls declined 100,000 in August--the 3rd straight month of job losses. Private employers are thought to have added 41,000 jobs last month, but government payrolls were likely pared as part-time Census jobs ended & state & local governments cut their work force due to budget woes. Better than expected jobs data would tend to support all markets. It will take a very bad report to shock traders. Gulf basis bids improved, barge freight costs weakened & grain basis bids mostly strengthened on Thursday afternoon. Locally, corn basis was 8c higher, bean basis rallied 1/2c, & wheat basis was unchanged today. There is record-high export shipping demand scheduled thru December, so barge availability looks to be the biggest basis risk into late September-early October. 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 : 9/2/10 Commoidty/Location Cash Price New Crop Jan. 2011 Wheat: Addieville $ 6.00 $ X.xx $ 6.56 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 $ 4.02 $ 4.02 $ 4.43 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 $ 9.77 $ 9.77 $ 10.25 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!!!! Weather by TopAg.net: More weather by AccuWeather® Powered by: Hi-Tek Solutions, Highland, IL. Webmaster: Keith Wineinger.