Daily Grain Comments

Note: Corn Products in Chicago will remain open for corn truck deliveries until 3 PM on Saturday, January 30, 2010. They are closed on Monday, February 1, 2010 and will reopen at 5AM on Tuesday, February 2, 2010.

Elburn Coop in Ottawa will be taking corn on Monday, February 1, 2010.

In today’s trading, grain futures finished a bad week on a down note. A higher US dollar has made all commodity exports look less attractive to foreign buyers. Lower crude oil also led commodities lower today. Soybeans are pressured by fear of Chinese contract cancellations in favor of South American origins. Mar corn finished down 5 ¼ today and down 8 ½ for the week. Mar soybeans closed down 17 ¾ today and down 37 ½ for the week. Jul Chicago wheat futures finished 12 ½ lower for the day and down 23 ¾ for the week.

National average on highway diesel fuel prices dropped 3.7 cents in this weeks report adding to a small drop last week. Lower crude oil prices have helped stabilize diesel prices the past few weeks.

Locally we continue to pick up and receive corn from the field when weather conditions allow harvesting to occur. Slowly we try to wind up harvest in our area.

Have a great weekend!
Mike Etienne