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January 11, 2017  01/11/17 10:57:52 AM

Hope everyone had a great Christmas and New Year’s!  Here’s to 2017 getting off to a great start!
Tomorrow is another report day.  At 11:00 am the USDA will release their best guesses on Dec 1st grain stocks, 2016 production figures, and the expected carryout numbers for this year.  Like I’ve said before it is a guess.  What we do know is the yield from this past growing season was large for many producers in a lot of regions.  Best corn and bean yields ever?  Some have said so.  Others have stated one of the best.  Big crops seem to get bigger.  Export demand has been strong and the livestock numbers are a little larger than last year.  Will bird flu be an issue the poultry industry will have to deal with?  There have been several cases being report in Europe and Asia.  Will we be able to keep it maintain here this year?   The weather in SA has been ok for most of their growing regions.  First crop soybeans being cut in Northern Brazil are yielding better than expected.  Areas of Argentina were dry and maybe now to wet.  The markets have most of their growing season in play?  The fund managers will continue to move the markets within the established trading range, just waiting for a weather issue in our 2017 growing season.  Any political issues down the road may also be a market mover.  Corn and bean basis levels also pretty good for this time of year and for the amount of grain on hand.  These number could get better if producer selling dries up but will get pretty wide this summer if we have a good growing season.
Grain quality will not get any better the longer it stays in a bin.  Make sure you make it a habit to check your farm stored grain bins.
The board of trade, banks, and the post office will be closed on Monday January 16th in observance of Martin Luther King day.
Days are getting longer and we are one day closer to Spring!
Have a great week.
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