Daily Grain Comments

Note: Corn Products in Chicago will open at 5 AM Monday, October 19, 2009 for truck corn deliveries.

Grain and soybean futures were lower across the board in today’s trading. Dec corn finished down 1 today but, gained 9 ½ cents this week. Nov soybeans were down 5 ½ cents today but, 13 ½ higher for the week. Export sales out today were on the low end of trade expectations for corn and slightly above expectation for soybeans. A small window of drier weather starting this weekend through early next week gave the market hope of a pickup in harvest activity. Dec Chicago wheat futures finished 6 ¼ cents lower. .

National average on highway diesel fuel prices ticked up a bit this week rising almost 2 cents per gallon. Crude oil trading higher this week will likely continue the up movement in diesel prices.

Weather continues to play havoc with harvest schedules. While we have seen other years of slow corn harvest nationally, soybean harvest is off to its slowest start in the last 20 years. Hopefully a window of drier weather this weekend and early next week materializes and allows us to get harvest moving locally.

Have a great weekend!
Mike Etienne