Cambria Plant 920-348-5868

Market Commentary
February 21, 2017
 
Good Morning,
 
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.
 
Have a Safe Day!
 
Garry Gard
920-348-6844
ggard@didionmilling.com
 

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Local Forecast
Cambria, WI
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High: 64°F
Low: 42°F
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Cambria, WI
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Welcome

Receiving Hours

 
Monday - Friday  By Appointment Only 

Saturday  - Closed
Sunday - Closed



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. 

FOB TRUCKING
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.

Futures
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 369'2 370'6 369'2 370'2 1'0 369'2 09:37P Chart for @C7H Options for @C7H
May 17 376'2 378'0 376'2 377'2 0'6 376'4 09:37P Chart for @C7K Options for @C7K
Jul 17 383'4 385'0 383'4 384'4 0'6 383'6 09:37P Chart for @C7N Options for @C7N
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1027'2 1029'6 1026'4 1027'4 1'2 1026'2 09:38P Chart for @S7H Options for @S7H
May 17 1038'0 1040'4 1037'2 1038'0 0'6 1037'2 09:38P Chart for @S7K Options for @S7K
Jul 17 1047'0 1049'6 1046'4 1047'4 1'2 1046'2 09:38P Chart for @S7N Options for @S7N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 436'0 438'4 436'0 437'4 1'4 436'0 09:37P Chart for @W7H Options for @W7H
May 17 450'0 452'6 450'0 452'0 2'2 449'6 09:37P Chart for @W7K Options for @W7K
Jul 17 464'6 467'0 464'6 466'4 2'2 464'2 09:37P Chart for @W7N Options for @W7N
My Custom Markets
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