Corn dumping hours are Monday - Friday, 7:00 AM - 4:30 PM.
We will be closed on Thursday and Friday this week so our employees can travel for the holiday. Happy Thanksgiving to all.
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.
This last USDA report is the one we have to live with until the final in January and it didn't give us much to talk about. Corn carry out at 1.91 billion bushels will keep a lid on prices and probably have us trading in the lower end of the $3.60 to $3.90 range we have seen since September. Any news that gets us in the $3.90 to $4.00 futures will be a rally worth selling. Remember, there is lots of corn in the world that is cheaper than US corn, so our exports will continue to be depressed for some time.
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 carry in the market so look at pricing spring or summer delivery at premiums to nearby prices.
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. $3.80 cash corn and above is probably a good sale based on the yields I am hearing. Sell into any rallies as they may be hard to come by unless South America has a weather problem.
Call ahead to schedule your deliveries.
Click on the "Cash Bids" link below to see our current cash prices.
Snow lingers over the northwest Midwest region Monday with rain or showers also through the eastern and southern Midwest. » More DTN Weather Commentary
