PRESS RELEASE - September 16, 2019

The Board of Directors of Siouxland Energy Cooperative announced today that it will idle production at its ethanol production facility in Sioux Center. The Board decided to halt production due to the Administration’s recent grant of small-refinery exemptions (SREs) to many large oil refineries, which has undermined the Renewable Fuel Standard and reduced ethanol demand by 4 billion gallons. Kelly Nieuwenhuis, President of the Board, said: “The Administration’s actions unfairly benefit the oil industry at the expense of our local farmers and, if not addressed soon, will impact the livelihoods of many. We look forward to the Administration properly addressing these issues, so that Siouxland Energy can resume ethanol production and its purchase of corn from local farmers, and generally contribute to the local and global economy.”

Edwards Market Thoughts

10/22/19 8:00am

Weather continues to stall harvest progress.  USDA weekly crop progress report showed corn harvest rating at 30% complete (expected 34% complete, 22% last week, 48% last year, 47% 5-year average).  Soybean harvest rating at 46% complete (expected 42% complete, 26% last week, 51% last year, 64% 5-year average).

Brazil's soybean crop planting has progressed to 21% complete, this is below last year's 34% level as scarce rains delayed sowing work, according to AgRural.  Although slower than last year, planting in Brazil is in line with their five-year average with above average planting in the state of Mato Grosso, the consultancy said. 

President Trump said he thinks a trade deal between the United States and China will be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 - 17.  "I think it will get signed quite easily, hopefully by the summit in Chile, where President Xi and I will both be," Trump said.

How many producers would sell corn today at $4.10 CZ19 futures? Can do that for next year. CZ20 at $4.10 is roughly $0.42 higher on average than they were trading this date over the previous 5 years.

Assume larger corn acres next year and a trend yield it’s not hard to imagine a carryout next year well north of the 2 billion bu mark. Informa has a working number on 20/21 corn carryout at 2,690 mln bu!

CZ20 against previous 5 years

 

Local Weather
Weather radar map

Sioux Center, Iowa (51250)

Current Conditions: Sunny
Temperature: 46°F Dew point: 28°F
Humidity: 49% Pressure: 29.84 in. Hg
Wind: 20 mph From: Northwest

Forecast

Tuesday
Weather condition
Hi: 46°
Lo: 32°
Wednesday
Weather condition
Hi: 44°
Lo: 29°
Thursday
Weather condition
Hi: 43°
Lo: 28°
Friday
Weather condition
Hi: 50°
Lo: 37°
Saturday
Weather condition
Hi: 59°
Lo: 37°

Zip Code:

© 2019 Freese-Notis Weather

Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes retrieved on October 22, 2019, 12:08:07 PM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Corn Receiving

Scale hours Monday-Friday

7:30-4:30

Let our Senators and Congressmen know!

Growth Energy has provided us an easy link to let our Senators and Congressmen know how the misuse of the SREs have affected the Renewable Fuels Industry. As members and employees we need your help to make sure our message is heard!

PLEASE take a moment to use this tool to express your concern. A form letter will populate after you put in your contact info and you will have the chance to add anything additional you feel would help highlight the damage being done by SREs and urge them to support the RFS Integrity Act of 2019. Here is the link - https://p2a.co/7VmlFP2

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Commentary
Corn Market 3 to 5 Cents Higher -

Corn futures are 3 to 5 cents higher this morning, erasing losses of 2 1/2 to 3 3/4 cents in the front months on Monday. Sluggish exports were the

Wheat Markets Are 5 to 7 Cents Higher -

Wheat futures are 5 to 7 cents per bushel higher in all three futures markets to begin your Tuesday. They were down by as much as 8 3/4 cents for

Lean Hogs Firmer On Bump in Cash Index -

Hog futures were 15 to 97 cents higher in all contracts except nearby December on Monday. It settled 12 lower. The CME Lean Hog Index was up by

Cattle Market Supported by Higher Beef Prices -

Live cattle futures were up by 15 to 47 cents in the front months on Monday, while feeder cattle futures were lower by 35 to 75 cents. The Cargill

Ag Market Commentary -

Corn futures are 3 to 5 cents higher this morning, erasing losses of 2 1/2 to 3 3/4 cents in the front months on Monday. Sluggish exports were the

Cotton Market 26 to 32 Points Higher Overnight -

Cotton futures are 26 to 32 points higher this morning, joining a wave of ag commodity buying overnight. They were down by 27 to 72 points at the

Full commentary...


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