Eddyville

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We will soon be harvesting new crop corn and if you have loads that are blended old crop and new crop, we need to know that at the time you check in your truck to ensure it gets into the correct bin.  Thanks for your help.

Market Commentary 11/18/2024

Markets were green across the board as corn and beans followed the strength in wheat due to rising concerns in the Russia/Ukraine war. The US is allowing Ukraine to use long range missiles against Russia, and Russia is promising retaliation attacks against NATO countries if they are attacked using these weapons. This will continue to be watched closely as it is an evolving story. US Export inspections for corn remain strong, and ahead of the USDA targets. The Funds are continuing to pile on their long position in corn as they are now over 100K contracts long, which is a complete 180 from where they were just a few months ago. Traders are still watching the South American forecast, which remains uneventful right now. The market also continues to react on speculation of what tariffs, if any, the Trump administration will place on other countries after Jan 1. There are thoughts that tariffs will be placed on Used Cooking Oil from China, which will help boost usage of US Soybean Oil to be used for SAF production. First notice day for December corn options is next Tuesday, make sure to have a plan in place for any remaining contracts that will need to be priced or rolled. Have a good Evening!

** This communication has been prepared by Cargill, Incorporated.  The information in this communication does not constitute “investment service,” “investment advice,” or “financial product advice” as defined by laws and/or regulations in any jurisdiction, and the contents of this communication should not be construed as investment, legal or tax advice.  Each person should seek independent investment, legal and tax advice concerning the consequence of entering any transaction.