We are now open extended hours for the harvest season. Call ahead during inclement weather. Tuesday October 6, 6:45 a.m. - Yesterday all three of our markets were up. Unfortunately basis levels decreased for soybeans due to our stronger dollar. Overnight corn and wheat are flat and soybeans are just negative. Both oil and our dollar are steady with oil just over $46 per barrel and our dollar is at $0.764 U.S.. Yesterday the weekly crop progress was released in the U.S. with winter wheat planting reported at 49% planted which is just behind their 5 year average of 51%. Corn is reported at 86% mature and 27% harvested versus 32% average. The big surprise was how fast the soybean harvest is going with 42% now complete versus 32% average. Soybeans were also rated 64% good to excellent which was up 2% for the week. This increase was not expected and could be bearish for the market with better then projected yields coming. In other news new crop soybeans are reported at 37% sold in Brazil versus only 13% last year. This should be supportive to prices as selling pressure from producers should now weaken. As reported yesterday weather concerns remain supportive wheat. Export data released yesterday in the States for last week was negative corn but somewhat supportive for soybeans. Do not expect any large movements this week until the monthly stocks report on Friday
Please call Geoffrey Guy at 613-880-2707 if you would like any direct ship pricing. We have prices right up to next years harvest. Prices quoted herein are for product at our elevator.
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On September 30, the Transportation and Infrastructure (T&I) Committee introduced bipartisan legislation to extend the December 31 deadline for U.S. railroads to be compliant with Positive Train Control (PTC) technology.