The energy markets are weaker this morning with crude oil trading near the $45/barrel range. This along with weakness in the soybean markets due to Chinese cancellations of soybeans due to South American production and cheaper prices is going to continue to pressure all commodities. We are testing the 100 day moving averages in old and new crop corn this morning. If we manage to close below $3.78 in the March contract and $4.08 in the December contract, we could see a 15-20 cent break in the markets before finding any support. The funds have been long corn for some time and are currently long 170,000 contracts which makes this an easy sell if prices break below the current support levels. I would advise producers to get old crop sales on the books at current levels and continue to get some new crop sales on in the $4 or above range. We have time and opportunity for new crop to find strength, but I feel that old crop is going to struggle to move. Delayed planting, less acres, bad summer weather are all market movers, but they are movers of the new crop and not the record 2014 crop that is stored in bins.
Don’t forget to visit us in booth 210 at the Corn Soy Expo January 29th and 30th.
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.