Corn down 3, Beans down 2, Wheat up 3
Crude Oil- 80.34 down 2.15
US Dollar- 85.74 up .44
Dow- 16,461 down 153
A couple of things you NEED to know:
1) Corn is now cash or contract only at ALL locations. This includes FGT. No storage or delay price will be accepted. Corn must be applied to contract or sold across the scale. This is effective October 21st and will remain in effect until further notice. THIS DOES NOT APPLY TO BEANS.
2) 2) If you are going to be delivering grain to the elevator and don’t have an account set up PLEASE call the Richmond office before you deliver so that we can have the account set up and ready before hand, this makes the process move along so much more smoothly.
3) Please take time to check your tickets, call the elevator right away if there is something wrong we need to know right away.
I think we all thought beans would keep the positive side today but farmers sold pretty heavy on the session and that was enough to take the market down to the close. It sounds like the Chinese are at it pretty hard so that has some resistance in the market. Funds bought close to 5 thousand on the day and that was enough. Things are getting tight, really tight we do have some trains scheduled Brunswick is expecting a bean train Friday, Hardin should have a bean train tomorrow, FGT looks like a bean train is supposed to arrive tomorrow morning, Corder is getting a bean train tonight, and Norborne is getting a train Friday. We are doing our best to get trains here and loaded as quickly as possible but PLEASE keep in touch with the elevators it doesn’t hurt to double check.
Corn landed 3 cents lower on today’s session with funds buying 2,000 lots on the day. For the most part corn is dry in the fields however most people have left corn in the fields and are focusing on the beans for now. Brunswick is getting a corn train in tomorrow morning, and Hardin gets a corn train tonight the others will be expecting trains soon. I guess there was a shooting in Canada today? I did as much reading as I had time to do, it sounds like Canada had mentioned joining the fight against the Islamic State Fighters who have been taking over parts of Iraq and Syria there was nothing in the column I read today that made me think the shooting was related to the fact that Canada wanted to assist in the fight against a bunch of folks in black pajamas but that doesn’t mean we don’t have the whole story either.
Wheat was the lone survivor today closing the session up 3 cents on some dryness over Russia. Funds didn’t do a whole lot maybe bought a thousand on the day and called it good. Illinois and Indiana are starting to show some concern over planting delays unfortunately the weather straightened up a little too late.