Daily Grain Comments

For those hauling grain toward Ottawa, please note the Illinois DOT has placed a 15 ton weight restriction on the bridge that carries Illinois 23 over Buck Creek, 3 miles north of Ottawa. Deterioration of the steel superstructure was listed as the reason and they stated emergency repairs will be made to remove the posting as soon as possible.

On highway diesel fuel prices dropped slightly in this week’s report ending a six week run of increases. Strong distillate stocks and crude oil trading lower today should help keep diesel prices in check for the near term.

USDA stocks and production reports today showed record yields in corn are expected with the total US crop expected to be the 2nd largest on record. Interestingly, the Illinois yield is now expected to equal last year’s at 179 bu/ac. Corn futures were supported late after spending most of the day in the red. Dec corn finishing 4 ½ higher. Though the production is expected to be higher, feed usage and exports for next year were increased to net a smaller than expected increase in carryout next year. Soybean production is expected to be a record this year. Soybeans spent most of the day under pressure. Nov soybean futures closed down 23 ½ .

Have a great weekend!
Mike Etienne