Corn and soybeans both opened down 1 after the three day break. Weekend rains across Argentina were mostly beneficial. Brazil’s weather will remain favorable for crop development and fieldwork in the short term. Brazil’s soybean harvest is 25% complete which is above the 5 year average of 17%. Safrinha corn planting is 58% complete compared to 46% last week. The USDA Ag Outlook forum takes place this Thursday and Friday. Traders will be watching for acreage estimates of the 2017 crop. One brokerage firm recently released survey results on planting intentions, revealing a consensus estimate for more soybean acres (90.2 million) than corn (89.7). If realized, this would be the first year soybean acres have exceeded corn in 40 years. What would this mean to the market??? In my opinion producers looking to plant more soybeans had better lock in prices shortly as this type of acreage combined with a record South American harvest is going to depress prices. This would also keep corn prices flat with little to no acreage battle. A drop in corn acreage to 90.0 million acres and a trend line yield of 169 bpa would still result in a carryout of more than 2 billion bushels. This is why I do not anticipate an acreage battle this spring and do not anticipate higher corn prices in the coming year.
Reminder – we are offering the Average Price Contract for October and November delivery. The deadline to lock in bushels on this contract is next Wednesday 2/22/17.
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.