{"id":1764,"date":"2017-01-25T09:42:46","date_gmt":"2017-01-25T15:42:46","guid":{"rendered":"http:\/\/www.ctsfutures.com\/?p=1764"},"modified":"2017-01-25T09:43:06","modified_gmt":"2017-01-25T15:43:06","slug":"morning-thoughts-2017-01-25","status":"publish","type":"post","link":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/","title":{"rendered":"Morning Thoughts – Jan 25"},"content":{"rendered":"

<\/a>Grains<\/u> –
\nThough it has been well over a week since the USDA\u2019s Grain Stocks report, I thought it might be worth a quick look at the annual breakdown of US grain storage capacity and how Dec 1 stocks look in reference to capacity.<\/p>\n

USDA reported that total on-farm storage capacity in the US in 2016 was up less than 1% from their revised 2015 estimate.\u00a0 Interestingly, the gains were seen outside of key Corn Belt states.<\/p>\n

The attached map breaks down reported corn, soybean, and all wheat on-farm stocks by state and compares it to the state\u2019s on-farm storage capacity as reported by USDA.\u00a0 Keep in mind that some states did not report on-farm levels, however, so these figures are not entirely precise.\u00a0 And of course there are more crops in storage than just the three shown here, but this should comprise the large majority of storage use.<\/p>\n

\"US<\/p>\n

I find it a little interesting to see such a high level of on-farm utilization in IL (and even IN) considering basis levels there are fairly solid compared to levels further west.\u00a0 It is also interesting to note that the YOY increase in combined on-farm stocks on Dec 1 is greater in the ECB than the WCB…with the exception of MO\/KS if you count those states in the WCB.\u00a0 Obviously both states benefited from significant increases in soybean and wheat stocks this year.<\/p>\n

\"US<\/p>\n

DISCLAIMER<\/u>:<\/strong>
\nThe information contained herein has been taken from trade and statistical services and other sources we believe are reliable. Opinions expressed reflect judgments at this date and are subject to change without notice. These materials represent the opinions and viewpoints of the author\u00a0 and do not necessarily reflect the opinions or trading strategies of Nesvick Trading Group LLC and its subsidiaries. Nesvick Trading Group, LLC does not guarantee that such information is accurate or complete and it should not be relied upon as such. Officers, employees, and affiliates of Nesvick Trading Group, LLC may or may not, from time to time, have long or short positions in, and buy or sell, the securities and derivatives (for their own account or others), if any, referred to in this commentary. There is risk of loss in trading futures and options and it is not suitable for all investors. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RETURNS. Nesvick Trading Group LLC is not responsible for any redistribution of this material by third parties or any trading decision taken by persons not intended to view this material.<\/p>\n","protected":false},"excerpt":{"rendered":"

Grains – Though it has been well over a week since the USDA\u2019s Grain Stocks report, I thought it might be worth a quick look at the annual breakdown of US grain storage capacity and how Dec 1 stocks look in reference to capacity. USDA reported that total on-farm storage capacity in the US in […]<\/p>\n","protected":false},"author":4,"featured_media":1765,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\nMorning Thoughts - Jan 25 - CTS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href="../wp-content\/uploads\/CSW-Stocks-vs-On-Farm-Storage.png\" \/>\n\t<meta property=\"og:image:width\" content=\"633\" \/>\n\t<meta property=\"og:image:height\" content=\"466\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"David Zelinski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CTSfutures\" \/>\n<meta name=\"twitter:site\" content=\"@CTSfutures\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Zelinski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/\",\"url\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/\",\"name\":\"Morning Thoughts - Jan 25 - CTS\",\"isPartOf\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/CSW-Stocks-vs-On-Farm-Storage.png\",\"datePublished\":\"2017-01-25T15:42:46+00:00\",\"dateModified\":\"2017-01-25T15:43:06+00:00\",\"author\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#\/schema\/person\/2ebea80d35d247463c6be35dcf694285\"},\"breadcrumb\":{\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/#primaryimage\",\"url\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/CSW-Stocks-vs-On-Farm-Storage.png\",\"contentUrl\":\"https:\/\/udg.ehs.mybluehost.me\/wp-content\/uploads\/CSW-Stocks-vs-On-Farm-Storage.png\",\"width\":633,\"height\":466,\"caption\":\"US C+S+W Dec 1 Stocks vs On-Farm Storage\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/udg.ehs.mybluehost.me\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Morning Thoughts – Jan 25\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#website\",\"url\":\"https:\/\/udg.ehs.mybluehost.me\/\",\"name\":\"CTS\",\"description\":\"Cunningham Trading Systems\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/udg.ehs.mybluehost.me\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/udg.ehs.mybluehost.me\/#\/schema\/person\/2ebea80d35d247463c6be35dcf694285\",\"name\":\"David Zelinski\",\"sameAs\":[\"http:\/\/nesvick.com\"],\"url\":\"https:\/\/udg.ehs.mybluehost.me\/author\/dzelinski\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Morning Thoughts - Jan 25 - CTS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-01-25\/","og_locale":"en_US","og_type":"article","og_title":"Morning Thoughts - Jan 25 - CTS","og_description":"Grains – Though it has been well over a week since the USDA\u2019s Grain Stocks report, I thought it might be worth a quick look at the annual breakdown of US grain storage capacity and how Dec 1 stocks look in reference to capacity. 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