Good Morning,

Here is the news that is moving the market today:

Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!
— Donald J. Trump (@realDonaldTrump) November 1, 2018

I would advise producers not to get too excited as this tweet as history has told us that we could see another “tweet” in the next hour that puts the markets on the defensive.

SELL THE BOUNCES!!!

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

It appears that weaker markets are in store to end the month. October offered some hope as we rallied 22 cents in the first 15 days only to fall 15 cents in the last 15 days. With heavy harvest activity and little to no news on the political side the markets will remain range bound. I would expect both corn and soybeans to trade lower today as traders pocket some money at month end. The good news is that the funds started the month short 125k corn contracts and are now long 19k contracts.
Ag Secretary Perdue confirmed that a second round of payments will be coming to farmers, most likely in the same amount as the first. While this is not very lucrative for corn producers who receive .005/bu in the first payment for bushels produced this year, it is very good for soybean producers who received .825/bu in the first payment. The $1.65 MFP payment would bump most cash prices to well over $9/bu.
I would advise producers looking for space this fall to lock in basis contracts vs. the CH which would give you a couple months for the markets to rally back to better levels. This is a great way to give yourself time to price while avoiding high storage charges that are being charged by warehouses. Give us a call for more details.

We will be closing our scale at 3:00 pm today to help make the streets of Cambria safer for Trick or Treating. We will resume normal 7-7 hours on Thursday.

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

Fridays rally in the corn market was driven by wheat prices. With the US securing some of the Egyptian wheat tender last week we saw wheat make a nice rally. Right now this is appears to be the only support that corn can find. I look for corn direction in the next two weeks to come from export or sales news in the wheat market until we get to the November S&D report on 11/8/18. Traders are anxiously looking to this report to see if the USDA reduces corn yield again. We should start to see private estimates released later this week.
Good harvest weather over the past week has traders estimating the corn crop is about 60% harvested which would be up from 49% last week.
Brazil looks to be on pace to increase first and second crop corn acres this year due to demand while the US is expected to see a large acreage shift from soybeans to corn next spring. If these two scenarios play out I believe producers should be aggressive sellers of next year’s crop before the US crop goes in the ground.

Be sure to join us on Tuesday 10/30/18 as Compeer Financial will be onsite from 11:00 -1:30 serving lunch.

We will be closing our scale at 3pm on Tuesday and Wednesday this week.

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

Corn and soybeans are currently up seven cents each. This is ahead of a wet forecast, which could slow down harvest progress for a week.

• USDA reported export sales of 260,000 MT of soybeans to unknown destinations.
• Buenos Aires Grain Exchange reports 34% of corn planted, with the early planting window coming to a close.
• Week ended 10/18 reporting US corn sales 32% ahead of last year, with a total outlook for the year of 2% ahead of last year.

Note that fall bids are in the $3.30 levels and February corn is at $3.60. Make sure to take time to watch markets during this busy harvest season.

Have a Great Weekend!

Mitch Giebel
920-348-6861
mgiebel@didionmilling.com

Good Morning,

Weaker markets again this morning with corn and soybeans both opening 3-4 lower. Corn, Beans and Wheat have all fallen out of their key trading ranges and below key support levels this week. With a dry US forecast allowing harvest to progress we are going to need the speculative buyer to return to this market to change course.
• Weekly export sales were very disappointing with corn at 13.8 million bu. compared to a ten week average of 29. Soybeans came in at 7.8 million bu. compared to a ten week average of 19.
• Weekly ethanol production rose 13,000 barrels/day to 1.02 million. Production is below the 1.068 million pace needed to meet USDA estimates. Ethanol stocks fell 233,000 barrels to 23.9 million barrels.
• The Wall Street Journal reports the US is refusing to engage in trade talks with China until a “concrete proposal” is presented that addresses US complaints about forced technology transfers. The G20 meeting at the end of November is already being questioned if something can be done then.

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didonmilling.com