**Directed by the ODA as a result of the passage of Senate Bill 66, "Changes to Ag Commodities Warehouse Law", Central Ohio Farmers Co-op will beginning collecting 1/2 cent per bushel on grain delivered on and after April 1, 2014 for the Agricultural Commodity Depositors Fund. This will be collected on corn, soybeans, and wheat. The collection will be in effect until the ODA issues a notice to stop collecting.**
If you have any questions please feel free to contact the grain department at (740) 382-8132.
Beans decided to fly higher solo today. May made a new life of contract high at $15.22 and high close at just under $15.20. Any posiitive export sales number tomorrow will add to the bullishness. Corn closed lower as it appears a window for planting is developing next week. Wheat also lower as the cold temps in the HRW belt didn't do as much damage as first thought. Exports sales are out tomorrow and the market is closed on Good Friday.
The Commodity Futures Trading Commission's relationship with the grain industry is rocky, at best. The House Agriculture Committee reprimanded the Commission's rulemaking process last week by including language in a bill that undid a controversial rulemaking on residual interest, a concept that commercial hedgers argue would cause the cost of hedging to skyrocket.