Corn dumping hours are Monday - Friday, 7:00 AM - 4:30 PM.
We still have a quick ship bid thru the 25th of October. Call if you have corn that will be available next week. Reminder: Corn must be off of heat for 7 days before we can take it.
We are happy to announce that Jeff Andersen has joined us as a corn merchandiser. Jeff will be taking over full time after the end of the year when Roger retires. Jeff has many years of experience in the grain industry with time at Poet in Coon Rapids and Landus Cooperative.
October's USDA report was not friendly to feed grains. Corn yield was up .2 bushel per acre but the main point of emphasis by the trade was the 1.929 billion bushel carryout. At this point it was nothing to make the funds buy corn. So we go back into the previous trading range of 3.63 to 3.85 December futures. The only salvation currently is if you can get corn out of the field and get it delivered on the quick ship bid of .25 over the Dec. After that it will be a long slow crawl to get these markets back up near $4.00 futures. We will have to see what the rest of the fall is like before we do much to the cash price.
Lower fuel prices and political turmoil has taken margins out of the ethanol business and world pork production is down dramatically due to ASF. We have done permanant damage to corn usage and it will take time to get it back up. The thing that scares me is if we see much of a rally before next spring, how many acres can we see planted in 2020? Prices were in the top 2% of the last five years and not enough people took advantage of them. Also there is good carry in the market so look at pricing spring or summer delivery at premiums to nearby prices.
I know it was easy to get bulled up when corn was at $4.50 but now we know we have to sell at profitable prices no matter what we think when they are presented to us. There will be opportunities to sell corn this year at above breakeven this year in my opinion because we are fortunate enough to have a crop. Don't sit back and watch the market go by if we do rally. There is carry in the market so take advantage of it when the time comes.
Call ahead to schedule your deliveries.
Click on the "Cash Bids" link below to see our current cash prices.
Widespread dry conditions favorable for field drying and harvest in primary crop areas. Rain in eastern and southern areas. » More DTN Weather Commentary
