Early this morning the outside markets have crude oil down to $47.15 and the dollar down to 94.64. The dollar has continued to hang in the $94-$95 range for the last 9 trading days. Federal Chairman Janet Yellen will be speaking in Jackson Hole, WY at the Feds Economic Symposium. Traders will be looking for any indications of a future rate hike decision. Some are estimating it could happen in December at the earliest. Pro Farmers tour wrapped up last night in MN with the group pegging MN at 182 bpa vs a 3 year average of 180 bpa. They pegged IA yields at 188 bpa vs. a 3 year average of 177. After todays close they will release their national average which is expected to be less than the USDA’s 175 bpa. Look for corn to continue its lateral trade in the $3.20-$3.40 range as we work our way closer to harvest. I have talked with many producers recently that plan to start harvest in the next 4 weeks. A lot of corn fields were in the R5 stage as much as 2 weeks ago. With weather forecasts for the next 30 days showing temperatures in the mid – 80’s for highs and lows in the mid to upper 50’s along with lower precipitation, this crop is going to mature very well.
Advice for Producers:
Producers should be figuring out what additional space they will need this fall and make sales now. Most could use an estimate 10% bigger than previous years to calculate the space needed.
Making sure you have space this fall to get your crop off is going to be critical. Producers that do not take this opportunity to plan are going to have issues moving grain this fall and will most definitely receive less for their grain than if they sold now.
Look to lock in cash or basis sales for December thru April before we get into harvest.
Bins should be cored out once you finish harvest to remove all fines and make sure the air flows freely.
More corn is going to be moved to meet cash needs for producers looking to make prepayments on inputs, pay land rents.
Basis will continue to widen as we move forward with more than adequate supplies of grain, lack of space and cash flow needs.
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.