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11.26.24 MIDCO MORNING COMMENTS:

Good morning.
Grain prices are mixed to higher to start Tuesday. The last few sessions have been quiet in terms of changes in the market as the holiday mode settles in.
Just two more full trading sessions left this week. No trade on Thursday with a short session on Friday.
Positioning ahead of first notice day is the main driver of volume this week. First notice day for December contracts is Friday. We will report December longs after the close of business on Wednesday (tomorrow). Please review your positions.
President-elect Trump posted on social media last night that he would plan on a 25% tariff on both Canada and Mexico until they get control of the drugs and migrants that are passing through the borders. The grain markets did not have much of a reaction. Winter wheat ratings improved again in last night’s crop progress report. Winter wheat is rated 55% good to excellent, up 6% from last week. Sovecon lowered its estimate for Russian wheat exports from 45.9 MMT to 44.1 MMT. The USDA is at 48 MMT.
It is going to be cold through the rest of the week and into next week. A couple of snow showers are possible tomorrow and then over the weekend. The extended forecast is dry again. No real concerns in the South American forecast.
Brazil is estimated to be over 90% planted on beans.
The outside markets show the equities mixed and the dollar lower. Crude is up slightly. Extreme volatility noted in the cattle markets yesterday, but it calmed by the close.
Producer selling has slowed but decisions related to December cash contracts remain plentiful. The futures markets appear to be sticking to the quiet theme into Thursday.
Have a safe day.
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11.26.24 MIDCO MORNING COMMENTS:

Good morning.  
Grain prices are mixed to higher to start Tuesday. The last few sessions have been quiet in terms of changes in the market as the holiday mode settles in.  
Just two more full trading sessions left this week.  No trade on Thursday with a short session on Friday.  
Positioning ahead of first notice day is the main driver of volume this week.  First notice day for December contracts is Friday. We will report December longs after the close of business on Wednesday (tomorrow). Please review your positions.  
President-elect Trump posted on social media last night that he would plan on a 25% tariff on both Canada and Mexico until they get control of the drugs and migrants that are passing through the borders. The grain markets did not have much of a reaction.   Winter wheat ratings improved again in last night’s crop progress report. Winter wheat is rated 55% good to excellent, up 6% from last week. Sovecon lowered its estimate for Russian wheat exports from 45.9 MMT to 44.1 MMT. The USDA is at 48 MMT.  
It is going to be cold through the rest of the week and into next week. A couple of snow showers are possible tomorrow and then over the weekend. The extended forecast is dry again.  No real concerns in the South American forecast.   
Brazil is estimated to be over 90% planted on beans. 
The outside markets show the equities mixed and the dollar lower.  Crude is up slightly. Extreme volatility noted in the cattle markets yesterday, but it calmed by the close.  
Producer selling has slowed but decisions related to December cash contracts remain plentiful. The futures markets appear to be sticking to the quiet theme into Thursday. 
Have a safe day.
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Ludlow Co-op Elevator Company

Ludlow Cooperative Elevator Company is a farmer-owned grain cooperative in east-central Illinois serving Ford, Iroquois, and Champaign counties.

Founded in 1904 in Ludlow, Illinois, the company now has eleven locations: Alonzo, Bryce, Buckley, Danforth, Fountain Creek, Goodwine, La Hogue, Ludlow, Paxton, and Piper City, with convenient access to rail and Interstate highways.

Ludlow Cooperative Elevator Company handles grain sales and marketing of corn, soybeans, and wheat including grain storage and conditioning. The company is located in an area that enjoys some of the richest farmland in the world. Learn more about Ludlow Co-op Elevator