Daily Grain Comments

Note: Corn Products in Chicago will remain open for corn truck deliveries until 3 PM on Saturday, January 9, 2010. They will then reopen at 5AM on Monday, January 11, 2010.

IRE in Rochelle will also be open for corn deliveries on Saturday, January 9, 2010. Their hours will be 7 AM to 3:30 PM.

Elburn Coop in Ottawa will be taking soybeans on Monday, January 11, 2010


In today’s trading, grain futures finished mixed. Corn and wheat were supported by a lower dollar and index fund buying at the end of the trading session. Soybeans were pressured by an abundant South American supply forthcoming and lack of new demand. Indications of China raising their interest rates continued to negatively affect soybean prices. Mar corn finished up 5 ½ today and up 8 ½ for the week. Mar soybeans closed down 4 today and down 26 ½ for the week. Jul Chicago wheat futures finished 10 ½ higher for the day and up 24 ½ for the week. The market is looking forward to the Quarterly Stocks report due to be released next Tuesday.

National average on highway diesel fuel prices jumped 6.5 cents in this weeks report after being relatively stable for several weeks. This returned the national average to early November levels.

Locally corn harvest was again interrupted by snow this week Expect to see combines running this weekend to try and finish up in some areas. Ice conditions on the Mississippi River north of St Louis and on the Illinois River in some areas are wreaking havoc on barge movement. This is causing barge availability problems at some Illinois River terminals.

Have a great weekend!
Mike Etienne