Daily Grain Comments

Note: Corn Products in Chicago will remain open for corn truck deliveries until 3 PM on Saturday, October 31, 2009. After closing Saturday they will re-open at 5AM on Monday, November 2, 2009.

On the roads… The IL 23 bridge over Buck Creek no longer has a posted weight limit. Normal weight limits apply. The IL 23 bridge over Indian Creek, north of US52 remains one lane only at this time.

In today’s trading, grain futures finished a down week with a sharply lower Friday. Sharply lower equity and oil markets led grain futures lower on the day. Thoughts of drier weather in store for next week kept any reaction to the current wet weather at bay. Dec corn finished down 13 ½ today and down 32 for the week. Nov soybeans closed down 7 ½ cents today and down 28 for the week. Dec Chicago wheat futures finished 9 ½ lower on the day and 53 ½ lower for the week.

National average on highway diesel fuel prices jumped another 9.6 cents in this weeks report. This makes the third straight week of up moves. These are the highest levels seen since November 2008.

We were able to get in a little corn harvest between rain drops this week. Getting trucks in and out of fields was challenging but, most have made good field entry and exit plans. Drivers have done a great job working with the field conditions. More rain last night and today will almost certainly keep us out of the fields this weekend and into early next week. Drier weather starting Saturday for several days promises to give us better opportunity for harvest work next week.

Have a great weekend!
Mike Etienne