Good afternoon bloggers! You have probably all heard about the earthquake in the Sycamore, IL region this morning. But did you know that in 1811-1812 there were several earthquakes near St. Louis, MO which reversed the flow of the Mississippi River? Now you know.
It was a good day. Corn finished 3 cents higher at $3.61. Soybeans finished 13 cents higher at $9.37. Crude oil, natural gas, and the Dow Jones have all been in the green as well today.
Soybean basis has been strengthening on the river. Bids at the Illinois River have been significantly higher than what we have been seeing at country elevators. The Morris Terminal is bidding 6 cents over SH0. Reports from Brazil are saying farmers are 10% harvested and 26% sold. The USDA raised soybean exports 25 MBU.
The corn basis continues to firm up on the river market and most processor markets across USA. CH basis is 7 cents under at the river.
The Illinois River has been cooperating and is expected to stay around the 5-6' marker even with this week's precipitation. The weather outlook continues to be favorable for South America. Northern Illinois will begin to see temperatures hovering in the 20's and 30's for the rest of the week. Forecasters are saying snow is to be expected this weekend. Be cautious while driving as drifting snow may here and there.
Oskee wow wow,
Nathaniel Dubravec
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