Last day of November and the trade is quiet after a short holiday weekend with corn up 2 and soybeans up 3. There are very few fundamental drivers in the market during the month of December so I look for the markets to trade sideways. Events that could possibly move the markets higher or lower during the next 30 days:
December 9th USDA Supply and Demand report – Historically this report does nothing as the USDA typically waits until January to update any numbers.
December 10th Argentina’s president elect will take over – He has confirmed that he plans to abolish corn and wheat export taxes while dropping soybean taxes by 5% on the first day in office. Currently corn export taxes stand at 20%, wheat stands at 23% and soybeans are at 35%.
Tensions between Turkey and Russia – Russian export prices have fallen $4.50-$9.00 per metric ton. This continues to pressure US export business.
US dollar strength – Currently trading at a 13 year high.
Producers should be making basis sales for corn stored on the farm or in elevators. There is a pile of corn that has to move this coming year and basis levels will not maintain the current levels once this starts to move.
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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.
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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.