Daily Grain Comments

Note: Corn Products in Chicago will open at 5 AM Monday, October 26, 2009 for truck corn deliveries.

Corn futures ended lower while soybean and wheat futures were mixed in today’s trading. Most futures started higher on the day but, lower equity and oil markets along with a stronger dollar took their toll at the end of the day. Dec corn finished down 5 3/4 today but, gained an impressive 26 cents this week. Nov soybeans were up a ½ cent today and 28 ½ higher for the week. Dec Chicago wheat futures finished 4 lower while July ’10 was 1 ¼ higher.

National average on highway diesel fuel prices jumped 10 ½ cents in this weeks report to its highest level since last November. As Zach mentioned last night though stocks are ample historically small drops have given traders a notion to run with.

Harvest weather continues to be the biggest issue here locally and throughout most of the Midwest. Rain amounts from 1 ½ inches to over 3 inches have been seen in our trade area the last couple of days. Wet and cool conditions will persist in the coming week giving us only small windows of opportunity for harvest activity.

Have a great weekend!
Mike Etienne