What's On The Horizon?
By Kayla McMackin, Grain Originator
As we go into the end of the week, eyes are turning to the events taking place in Buenos Aires, Argentina, where on November 30 th and December 1 st , the G 20 Summit will commence. Though the summit priorities are focused on the future of work, infrastructure for development, and sustainable food future, among other topics, the keys for us to pay attention to are the results stemming from interactions between the US and China. More specifically, we’ll pay attention to Friday’s dinner meeting between Trump and Xi where they are to be discussing trade between their two nations.
In the event that the trade war is de-escalated, we could see soybeans try and rebound some more, bringing about some pricing opportunities. However, if more tariffs are placed, or unfavorable headlines result from the interaction, I would expect to see the reverse happen. Speculation leading up to the summit had soybeans trading both sides, beginning the week off 18 cents on Monday, then came back a bit with some “Turn Around Tuesday” action. Additionally, corn has experienced choppy trade over the last few weeks as we’ve seen harvest activities start to decline and first notice day for December contracts approach.

With harvest coming to an end, many of you have put away 2018 crop in waiting for the markets to meet your price goals, and some have even begun to think about 2019. There will likely to be several optimal pricing opportunities to take advantage of leading up to the New Year and after. Offers are one way CFC can help you set targets on futures, cash, and basis. To make sure you don’t miss a pricing opportunity, your CFC Originator is here to help you set goals and put in offers, so you won’t miss that chance to sell because your target hits at 3 am on a Tuesday night.
An Idea For Next Year
By Mike Healy, Agronomist, Marion
Now that we have harvest pretty well wrapped up, it is time to start planning for next year already. As we look back, there are some takeaways from this year.

Fungicide applications seemed to give a return based on when they were applied. Nitrogen application management and stabilizers showed a huge return. We are still trying to sort out some of the Roundup Ready 2 Xtend soybean varieties to see where they may fit and we are starting to get a clearer picture.
The month of December will move by fast so I think it would be a great idea to get ahold of your agronomist sooner rather than later to discuss your options for next year. The plan may change but at least we have an idea of what you are thinking.

Thank you for your business!!
Manager Comments
By Mark Finck, CEO
Harvest is still winding down and all I can say is I hope that this year does not become the new normal. With the wet drawn out spring and wet drawn out fall harvest, it has been a tough year on customers, equipment and employees. While we had a slow start to fall fertilizer, the past 3 weeks have allowed us to cover quite a few acres. Looking to spring, we will be making a final assessment of equipment and will be discussing additional equipment needs with the Fremar, LLC Board during our December Board Meeting.
In my last article, I visited about the potential for a new Farm Bill and the timing. Over the past few weeks since the midterm election, we have heard quite a bit of information coming out in regard to the new legislation and it looks the House and Senate have reached an agreement in principle (pending on the final cost estimates from the Congressional Budget Office), but they still have some work to do on it according to a statement released by House Ag Committee Chairperson Mike Conaway, R-Texas. We could see text/details come out as early as next week. The one bit of news I keep seeing is the potential to increase acres in the CRP from 24 million to 27 million acres paid for by capping payments relative to local rental rates (no word on what the cap rate would be). 

Your board of directors has set a date of Monday, January 21, 2019 for the Annual Meeting. We have three director spots up for election this year from District 1 Ed Mesman, District 2 Norman Peterson and District 3 Wendell Weeldreyer. We have the petitions ready for pick up for members interested in becoming a candidate for the Board of Directors of CFC. Please check with your local CFC office or you may call the Marion office and we will get a petition sent to you. The board has approved a patronage distribution for the past fiscal year (will be reported on at the Annual Meeting) and will be looking at equity retirements during the December Board Meeting. 

Wishing you and your family a Merry Christmas and a safe and Happy New Year!

Once again, thank you for your business! It is appreciated!