Good Morning,
Corn and Soybeans are both up two this morning, and it looks like we are going to have a dry stretch of weather! Trade is watching to see if the US and Canada form a trade deal by Friday. With a large crop starting to be taken off in the Southern Corn Belt, and a five month high trade deficit of $50 billion, it is extremely important the US can get good trade deals in place soon.
Several yield numbers have been coming in from parts of Illinois, a common theme seen is yield consistent with last year or 10-15 bushels higher. Each day these reports are creeping North, with similar expectations in mind. Make arrangements now to capture a more favorable basis than what is to come.
I would advise making cash sales or basis sales for any bushels that you will have to move this fall. We’ve seen fall basis widen in the past week in most areas, and expect this to happen again. Consider some levels for firm offers:
September $3.30
October/November $3.35-$3.40
December $3.50
Have a Great Day!
Mitch Giebel
920-348-6861
mgiebel@didionmilling.com
