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Jan 15, 2016  01/15/16 4:37:32 PM

Looks like winter has finally arrived and we are going to have another weekend with some very cold temps.  One good thing the days are getting longer so spring will be here before we know it!
The USDA report on Tuesday wasn’t really much of a game changer.  The world supply of both corn and beans were lowered on this report.  Our current supply of corn and beans will get us to next fall with plenty of carryover.  Basis continues to be fairly strong.  Best cash bids are nearby.  As I have said in earlier reviews, it’s going to take some type of weather issue during planting or the growing season or a weaker dollar to push the board a lot higher.  The short and long term support levels did hold this week.  We are now trending up toward the upper end of the trading range. The funds hold near record short corn and bean positions.  Don’t know how much shorter they may want to get.  Will the sell off in oil and other stocks push fund managers over to the commodity sector? 
Phase two of our receiving and drier project was approved by the board last month.  We will be taking down the south quonset and putting up a wet bin.  We will be able to take a lot more wet corn and will be able to run the drier more efficient once we get it fired up and running.  The handling equipment and bin have been ordered.  We are planning on starting as soon as we can this spring.  This will be a nice addition to your operation.
MLK Holiday this Monday.  No grain markets until Monday night.
Have a good weekend. 
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