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Dalton City

Delivery Start	Delivery End	Cash Price	Basis	Futures Price	Futures Change
CORN
SOYBEANS

Quotes retrieved on December 05, 2019, 11:45:05 AM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.

Bethany

Delivery Start	Delivery End	Cash Price	Basis	Futures Price	Futures Change
CORN
SOYBEANS
WHEAT

Quotes retrieved on December 05, 2019, 11:45:05 AM CST
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.

December 4, 2019

CORN

Corn was lower again today with CH and CK each off 2 ¾ cents as weak export demand continues to pressure the market. Selling by commodity funds also weighed on today’s trade. Fund selling was estimated at 4000 corn contracts as of midday. Corn has trended lower since mid-October as year to date exports for the current marketing year are the lowest in 40 years. Most analysts feel that the USDA will decrease U.S. corn exports by 50 to 100 million bu. in the December crop report due next Tuesday. There is still hope that dwindling supplies of southern hemisphere corn will push export business back to the U.S. during the December – March time-frame but we have not yet seen a significant uptick in sales or export inspections. Traders will be watching tomorrow’s export sales report for an indication that demand is increasing. Analysts expect that report to show weekly corn sales to be near 28 million bu. Ethanol demand is more encouraging. The weekly EIA energy report showed last week’s ethanol production higher for the 10th consecutive week, although the increase in production from the previous week was just 0.1%. Ethanol inventories did rise by 362,000 barrels from last week but are almost 2.5 million barrels less than a year ago.

SOYBEANS

Soybeans benefited from a short covering rally, closing higher today. SF and SH each gained 7 cents. Commodity funds bought soybeans, soymeal, and soyoil today with soybean purchases as of midday estimated at 3500 contracts. Beans are oversold from a technical perspective after the recent market losses, making them ripe for a short covering rally. The recent decline in both Brazilian and Argentine currencies has boosted cash prices in those countries and producers have been good sellers of soybeans during late November. This selling has slowed noticeably this week. A higher soyoil trade also benefited soybeans. Palm oil prices have risen to their highest level in two years, with the strength supporting soyoil today. Brazilian growing regions are well watered as the soybean crop there is now more than 90% planted. Much of Argentina’s soybean region is dry with rainfall the next two weeks expected to be below normal.

Heritage Grain Cooperative will be closing the 2019 calendar year on Friday, December 27th. Please make the Dalton City or Bethany staff aware of your intent to take any payment for 2019 by Thursday, December 26^th at the close of business. Any requests for funds the following week will be considered 2020 income and reported as such! We look forward to serving you through your tax planning season. – Shawn Kinkade, GM