June 28, 2019

Good Morning,

Through this morning of trade, corn is currently unchanged and soybeans are up 4 cents. Some heavy rains have moved through the Northern Corn Belt in the last 24 hours and continue into this morning. The bulk of the rain fell from southern MN to central WI where there has been reports of up to 4-6” in some areas. Chances of rain seem to have amped up a bit in the last 24 hours for the region. Rains are expected to return late this weekend and continue throughout the week next week. Some highly anticipated data from the USDA will be released at 11 a.m. and any shocks to the report is expected to cause some aggressive price movements in either way. I would recommend calling today to discuss opportunities to contract grain before and after the report. Below is the USDA June acreage and stock report estimates:

U.S planting of major crops for 2019 harvest (in million acres):
USDA June 28 estimate Average of analyst’s estimates USDA June 11 WASDE
Corn 91.7 86.662 89.8
Soybeans 80.0 84.355 84.6
All wheat 45.6 45.654 45.8

U.S. Quarterly Stocks as of June 1 (in billions of bushels):
USDA June 1 Estimate Average on analyst’s estimates USDA March 1, 2019
Corn 5.2 5.332 8.605
Soybeans 1.8 1.861 2.716
Wheat 1.0 1.100 1.591

Have a great day!
Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 28, 2019

Good Morning,

Through this morning of trade, corn is currently unchanged and soybeans are up 4 cents. Some heavy rains have moved through the Northern Corn Belt in the last 24 hours and continue into this morning. The bulk of the rain fell from southern MN to central WI where there has been reports of up to 4-6” in some areas. Chances of rain seem to have amped up a bit in the last 24 hours for the region. Rains are expected to return late this weekend and continue throughout the week next week. Some highly anticipated data from the USDA will be released at 11 a.m. and any shocks to the report is expected to cause some aggressive price movements in either way. I would recommend calling today to discuss opportunities to contract grain before and after the report. Below is the USDA June acreage and stock report estimates:

U.S planting of major crops for 2019 harvest (in million acres):
USDA June 28 estimate Average of analyst’s estimates USDA June 11 WASDE
Corn – 86.662 89.8
Soybeans – 84.355 84.6
All wheat – 45.654 45.8

U.S. Quarterly Stocks as of June 1 (in billions of bushels):
USDA June 1 Estimate Average on analyst’s estimates USDA March 1, 2019
Corn – 5.332 8.605
Soybeans – 1.861 2.716
Wheat – 1.100 1.591

Have a great day!
Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 27, 2019

Good Morning,

Corn and Soybeans continue to follow this week’s trend of trade with low volume and sideways price movement. Through the overnight, corn went unchanged and soybeans are up 2 cents. Wheat on the other hand traded a bit stronger and is up 7 cents. We are seeing a bit of a surge in the wheat market due to the various crop issues lingering for major global producers. The weather forecasts show chances of scattered thunderstorms in the next couple days with a dry weekend. The weather outlook for the next 10 days shows that temperatures will remain a bit warmer and we could see scattered showers throughout the week next week. Despite some chances of showers, the forecast ultimately shows drier and warmer days ahead. The drier and warmer weather is definitely welcome as we need to collect as many growing degree days as we can with the already shortened planting season. The USDA data is set to be released tomorrow at 11 a.m. giving an update on corn stocks and corn acreage. With this data markets are expected to react accordingly and trade is expected to ramp up by tomorrow afternoon. I would recommend that producers shouldn’t allow their bullish outlooks get in the way of locking in their crop at profitable levels. Curveballs are always possible with USDA reports.

Have a great day!

Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 26, 2019

Good Morning,

Markets are currently trading slightly lower this morning with corn down 3 cents and soybeans down 5 cents. Weather continues to be the driver of the markets through this week of trade. The outlook for the next 10 days calls for warmer temperatures and some drier days. The much needed warmer weather should give the crops a good boost as the number of growing days are becoming crucial with this already shortened planting season. With the heavy rains behind us and more optimistic temperatures on the horizon, I believe trade will be choppy in the days to come and not move too far in one direction or the other. The highly anticipated USDA stocks/acreage report is set to be released at 11 a.m. on Friday and a lot of eyes will be on that. Also, traders will continue to keep an ear open regarding the trade talks that are expected to happen between international leaders at this week’s G20 summit meeting. If you are sitting on any old crop corn, I would recommend calling in the days to come to make sure you take advantage of the opportunities that will arise in the next few days of trade.
Have a great day!

Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 24, 2019

Good Morning,

We start the new week with the markets up through the overnight of trade. Corn is up 4 cents and soybeans are up 6 cents. This week is set to be an eventful one with the release of a few reports and there is a G20 summit meeting where President Trump is expected to speak with international leaders regarding trade. Although the trade disputes are not expected to be resolved, it is very important for our markets that we don’t take any more steps back. There will be a crop progress report released this afternoon at 3 p.m. that will give us more insight to where we are with soybean planting and give an update on the condition of U.S. crops. This Friday, the USDA will release a much anticipated stocks/acreage report at 11 a.m. This report is arguably the most impactful report for this year’s crop and traders will be taking positions before and after the publication. If you are sitting on any old crop corn, I would consider selling some amount this week. With the weather returning back to more normal temperatures and the occurrence of some impactful events I wouldn’t want you to miss out on any opportunities to lock in your crop at profitable levels!

Have a great day!
Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 21, 2019

Good Morning,

Markets traded relatively steady through the overnight with corn unchanged and soybeans down 5 cents. Weather continues to be the driver of the markets here in the short run with some heavy rains expected to move through much of the Corn Belt this weekend. The weekly crop condition and planting progress report will be released this Monday and there will be a stocks and acreage report released next Friday, the 28th. Traders will be relying heavily on the upcoming reports with still so much unknown any little bit of news will give traders more insight to what yield and acreage loss will amount to. The market definitely seems to be in a wait in see mode regarding the weather and the effects it will have on the crops. Until next Fridays stock report that coincides with month and quarter end is released, I think the market won’t push prices to far one way or the other. I would recommend calling today to discuss your marketing needs and see what the best options are moving forward.

Have a great day!
Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 20, 2019

Good Morning,

Markets are down just slightly through the overnight with corn and soybeans down a cent. Rains are expected to move into our area this weekend, but after that forecasts show we will see a return to more normal temperatures. Overall, it looks like there will be a good window to finish planting soybeans for most farmers across the nation. The market seems like it is in a wait and see mode regarding the upcoming weather and how the USDA will estimate yield and acreage loss. Until we get a good handle on what that looks like, I think we will see a consolidation in trade and the market will take a breather from the most recent run in prices we had.
Have a great day!

Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 18, 2019

Good Morning,

Markets are lower here overnight and it’s hard to point out one specific reason. It seems to be influenced by a couple different things and just an exhaustion of the recent run. Prior to the small downside overnight, markets were deeply overbought, which makes it more susceptible to a downward move. After all, prices can’t always continue to go up. The planting progress report had 92% of corn planting completed and that told enough traders that in the last week that there was a strong push to get planters in the field. By no means do we think the new crop balance sheet is solved. I think time will tell with this issue and traders will rely heavy on the weather and upcoming reports to dictate where yield and acreage loss will end up. I would recommend getting some new crop on the books and locking in a profit on some production, and don’t forget to market the balance of old crop bushels.
Have a great day!

Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 17, 2019

Good Morning,
Markets continue to climb as the fear of acreage loss and yield decline continues to grip our market. The weather outlook for the next 7 days doesn’t seem to change much from what we are seeing now. Rains will continue to move through the Corn Belt this week with multiple systems on the way and temperatures will remain on the moderate to cooler side. Further forecasts predict that rains will move north in the next 10-15 days and will allow for things to dry up. A planting progress report and crop condition report will be issued this afternoon and the markets will be looking heavily into that. Corn planting is said to be finally wrapping up at this time if not completely done. Crop conditions will be the next debate markets will try to quantify and bring to life. Ultimately, fear is running ramped in the mind of traders and the markets are up sharply in response. I believe this week will bring high volatility in prices with such on edge trading. With so much still unknown, I don’t think we will see this calm down until we get a real bearing on what yield and production loss will look like.
Have a great day!
Drake Bliss
920-348-6817
dbliss@didionmilling.com

June 13, 2019

Good Morning,

Throughout the last 24 hours rains have moved through the area and are sweeping across the Great Lakes and hitting parts of the Eastern Corn Belt. With more rain on the forecast and cooler temperatures it seems that late corn and bean planting will continue to be stalled in the region. As a result of the weather, prices have been trading higher. Corn traded just under 7 cents higher through the overnight. This morning the nearby spot price surpassed the highs we saw towards the end of May. The big question that remains is how much longer will the price continue to rise? It will be interesting to see where the planting progress ends on a national basis. This past week has allowed for many farmers to get in fields, but now that more rain is moving through it will be interesting to see just how much got done in OH, IL, MI, and IN. Until the next yield and acreage estimates are released I think the high volatility in prices will remain.

Have a great day!

Drake Bliss
920-348-6817
dbliss@didionmilling.com