Correction Friday! The markets are down 4/5/12 in corn/beans/wheat respectively. Weaker crude oil prices and lack of new export news in the wake of China’s approval of MIR 162 are weighing on the markets. We have been on a slow and steady climb higher in the corn market over the last 3 months from the lows that were established in the first weeks or October. The charts are eerily similar to the charts of 2009/10 crop. I think producers should look to the 2009 crop and 2010 marketing year as guidance on when to market their crop. That was the last time we had a large carryout and actually had carry in the market. I would advise not trying to market your crop based on the last 4 years markets because this is a much different scenario. Here are just a few of the similarities: 2009/10 Crop
Slow harvest that drug into December due to wet crop
Lower Test Weights and higher Foreign Material
Record harvest with 13.1 billion bu. produced
Record stocks at 14.8 billion bu.
Prices were firm thru the end of the year right up to the January 12 report.
No one wanted to believe the USDA’s numbers in Oct/Nov/Dec, everyone thought there was less corn.
Producers didn’t want to sell because prices were below the cost of production.
The 2014/15 crop matches up with all of these points. I would advise producers sitting on unpriced grain to take risk off before the January 12th report. If the similarities continue with this crop, we are looking at a significant drop in prices 13 marketing days from now. (The 1/12/10 report resulted in a limit down day and was followed by lower markets the balance of 2010) If you would like more info on these comparisons call your Didion Grain Team today.
This afternoon we will get the first private estimate of 2015/16 acres from Informa. The USDA will also be releasing their December 1st Cattle on feed numbers. Expectations for this report are cattle on feed 101%, placed 96% and marketings 90%.
Didion will not be accepting corn with the Viptera or Duracade genetics. If you planted or intend to plant seed with these genetics make sure that you find the appropriate market.
Grain Receiving Hours Monday - Friday: 7am-5pm Saturday: Closed Sunday: Closed Holiday Hours: 12/24 - 7am-1pm,12/25 - Closed, 12/26 - 7am-5pm 12/31 - 7am-1pm, 1/1 - Closed, 1/2 - 7am-5pm 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.