Corn and soybeans are both trading 3 lower to open the day. Look for CN17 to remain range bound between 3.60 and 3.80. We have been in this range since March 9. Traders will continue to watch the mid-day forecasts to give them direction. If forecast remain unchanged I would expect a much lower close today. Soybeans have found no strength or support with the recent weather patterns and could be headed to $9 on the CBOT for SX17. Funds have increased their short position in corn by 40,000 contracts and 27,000 contracts in soybeans over the last two weeks. Their position and failure to cover these shorts is a great indicator that even if weather remains wet, they are not concerned about the US farmers ability to get the crop in the ground. The next 4 days continue to call for rain across the Midwest with the 6-10 day clearing up and becoming warmer.
US ethanol exports to Brazil are up significantly for the 2016/17 marketing year. The change is related to an increase in Brazil’s sugar prices, which is due to strong international demand for the country’s sugar exports. As a result, the country’s sugarcane refiners are shifting production from ethanol to sugar. Brazil has a 27% ethanol inclusion mandate for gasoline and the shift by refiners has left fuel refiners short ethanol From October 2016 through February 2017, fuel ethanol shipments to Brazil surged 547% compared the same period last year. This increase in shipments from the US has the Brazilian Ag Minister looking to impose tarrifs on imported ethanol. The tariff rate has not been finalized yet, but could impact US ethanol demand and margins.
Hours are subject to change based on weather. Please call to confirm hours.
ACH - Payment Form
If you are interested in ACH, please completely fill out the attached form and return it to Didion. Some financial institutions charge for this service.(You will have to check with yours to see if there is a fee) If you have a lien on your grain, we will not be able to pay you via ACH. Click Here to view form.
LET US DO THE TRUCKING FOR YOU!
Didion Milling has more than 20 trucks ready to serve you. We have hopper bottom and dump trailers of various sizes to fit your needs. We offer on-farm pickup throughout the year. Hourly rates are available should you need extra time to fill a trailer. Contact Garry or Brenda for more information on our trucking services.