Storms across IA, IL, IN,MN, WI yesterday afternoon eliminated any concern for this crop not finishing off. Additional rains now are just going to add to the final yield numbers. Weather forecasts continue to improve with cooler than normal temperatures in the upper Midwest by July 27th and rainfall amounts reaching 1-2 inches for much of the corn belt. Corn is down 3 cents this morning and down 22 cents so far this week. Corn has closed lower six of the past seven days. I would advise producers with old crop bushels to liquidate those bushels. If new crop sales (O/N/D) need to be made for space or cash flow, I would advise locking in basis on these bushels and pricing at a later date. In the past 6 years we have only spent 8 weeks below the current CBOT levels, so I would wait to price on any short term bounce. Funds have been adding to their short position in corn and wheat and are now short 45,000 corn contracts and 128,000 wheat contracts. Space is going to be an issue across all of the Midwest this fall which is going to result in weaker basis levels and limited space for this crop. Commercial elevators are currently taking in a very large wheat crop (yields of 100 bu/acre + are the norm) and will be carrying this wheat into next year. (For comparison Soybean carry from November to March = $-.06, Corn carry from December to March = $.09, Wheat carry from December to March = $.25)
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.