Monday October 18, 2021

• Markets lower to start the week – but still within last weeks trade range 
• Chinese corn imports for the Jan-Sept period are up 275% in 2021 compared to 2020 – typically China is not a corn importer but they began importing global stocks around this time last year 
• Accu-weather predicting a very snowy winter – yet overall milder winter for Ontario 
• U.S. corn yield increase seen last week is largely being attributed to an increase in Western states production – there was concern over dryness in the West through the summer but it is showing that it did not impact the corn yields as much as the USDA had anticipated 

Snobelen Farms Crop Update

• The weather we have been experiencing this fall has been very challenging for soybean harvest – giving us very few opportunities to combine soybeans so far in the month of October
• This is proving particularly difficult for those growing I.P. soybeans that must combine their white hilum soybeans at 14.5% moisture or below to receive the full premium 
  • As a reminder if you still have I.P. soybeans in the field, if you combine your beans between 14.5-17.0% moisture, you are still able to receive the Non-GMO downgrade premium of $1.75/bu 
• No corn came into the elevators this weekend with widespread rains over almost all our growing areas
  • Last corn harvest day we saw was Oct 14 – on which the average moisture we saw into our elevators was 24.5% 
    • Avg moisture; 24.9/ 23.7/ 24.0/25.6
    • Avg TW: 71.2
• IF you still want to get wheat in the ground not all is lost
  • However you would want to look at increasing your populations to at least 2.0 Million seeds/acre and plant no less than 1.25”