Favorable forecasts for Argentina and Southern Brazil continue to pressure the soybean markets this week. January soybeans are down 22 cents on the week. March corn is down 5 cents on the week. The funds continue to add to their short position in corn and are currently short 175k contracts. They have been reducing their long position in soybean at about the same rate. The funds are currently long 9k soybean contracts compared to being long 46k just over a week ago. Soybeans will struggle until this long position has been exited and weather in SA changes.
Weekly corn export sales of 34 million bu. were midrange of estimates, but only 57% of last year’s number for this week. Total export commitments year-to-date are down 28% versus the USDA estimate that is down 16. US corn is the cheapest feed grain in the world, but that has yet to manifest itself as a noticeable contributing factor to increased exports.
I am looking for a small rally (5-10 cents) over the next two weeks in the corn market as traders will cover some of their shorts heading into year end.
Columbia County Corn Growers Meeting Agenda Thursday, December 14, 2017 Club 60, W2164 State Road 60, Columbus, WI
9:00 Welcome and Sponsor Recognition – Jon Herrmann
9:05 FSA Update – Susan Hunter
9:15 NRCS Update – Twyla Kite
9:25 Land and Water Conservation Update – Kurt Calkins
9:35 UW-Extension Update – George Koepp
9:45 Marketing strategies for 2017-18 – JP Jones, INTL FC Stone Financial Inc.
10:30 Fungicides – What should I use, What might I use, Do they pay? Damon Smith, UW-Extension Plant Pathologist 11:15 Best practices to manage waterhemp and other herbicide resistant weeds. Richard Proost, Agronomist, UW-Extension 11:50 CC Corn Growers Yield Contest Winners Nicole Wagner, WI Corn Growers Association 11:55 Announcements and Sponsors Thank you
12:00 Lunch and networking with our sponsors and growers
1:00 Soybeans strategies for 2018, seed treatments, and Finding Profit. Shawn Conley, UW-Extension Soybean and Small Grain Specialist 2:00 Adjourn
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 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 Mitch for more information on our trucking services.