Yesterday’s selloff continues this morning with corn down 4 and soybeans down 7. With little fundamental news, traders were back to selling their positions. With the long holiday weekend, I expect traders to reduce their long positions in the grains by selling off today. Mexico’s Ag Secretary says that he will travel to Brazil and Argentina to explore the purchase of corn from those countries to lessen the dependence on US corn. He also stated that if needed they will explore import quotas and changing tariff regime for imports of yellow corn from Argentina and Brazil to make them more competitive. Producers have been actively selling old crop on the recent gains, which is strongly advised due to the carryout with this year’s crop and the uncertainty of demand going forward. Potential trade issues with Mexico and unknowns in the RFS are going to keep demand in check and well below the levels needed to reduce stocks in the US. Anyone who did not take advantage of the recent rally by making sales or enough sales is strongly advised to make sales and get firm offers in with your buyers. Old crop corn prices in the $3.45-3.70 range and new crop prices in the $3.70-3.90 range are good values and should be locked in. With the change in temperatures and unseasonably warm weather, producers should be pulling grain out of their bins to monitor the quality.
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.
There will be no markets on Monday in observance of Presidents Day. Markets will resume their normal trade on the Monday night session.
Scale will be closing at 12:00pm on Friday 2/17/17
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.
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.