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Chip Dellinger

Chip Dellinger

Chip Nellinger is founder/co-owner of Blue Reef Agri-Marketing, an Illinois commodity brokerage, and a regular guest market analyst on U.S. Farm Report and AgDay.

Oct 13, 2026

6:22
If for soybeans, since those are usually sold first, um, and I don't know if there's necessarily a need, um, you know, I've had a couple conversations the last few days about discolored soybeans and hopefully they still crush the same, but you know, as a foreign buyer going to take everything, you know, do you see a greater need to sell more beans, get rid of those now while we still have a level around 13, or do you feel like we can support this level for, for a while?
6:55
I think, you know, quality is, um, you know, not, notwithstanding here.
6:59
I, I think that, um, longer term, we still have some opportunities in, in beans.
7:04
You mentioned the, the domestic crush pace, uh, seems to be just on fire.
7:10
Uh, you know, 90 plus dollar crude oil and, and, uh, diesel prices where they're at is only going to, uh, continue to, to add demand on that front.
7:20
Um, quality issues are another, you know, another thing entirely.
7:24
I think from what I've picked up, that's mostly a Western corn belt issue.
8:22
Like, do you think we're, think we might be comfortable with where we are now? We might be range bound at least for a little while?
Michelle Rook
Michelle RookCORRESPONDENT
9:13
But the biggest one was the fact they didn't lower, China didn't lower those 10% reciprocal tariffs on US beans, right?
9:21
Yeah, I think that was the big, uh, the headline, right? I, I think at the end of the day, though, when you, uh, kinda crunch it out, they're gonna buy the same amount, it's just gonna be the, the government purchases instead of private purchases.
9:32
But that is what disappointed the market, uh, it appeared, was they didn't take that 10% tariff off.
9:38
Uh, all things, uh, that I've seen from that still seem like there's some big numbers there.
9:43
They agreed to the 25 million metric tons, you know, retroactively.
9:47
They agreed to two more years.
9:48
Also, uh, a, a bunch of, uh, additional, uh, other ag products on there.
Michelle Rook
Michelle RookCORRESPONDENT
10:05
Well, as you point out, uh, the corn and wheat markets, we're gonna get the 10% tariffs lowered there, but the fact we did not see any details, now the market wants some proof of purchases or what to be able to buy into this.
21:37
Are we in a weather market yet?
21:40
I, I really don't think so, Tyne.
21:41
You know, we're just, uh, getting this crop finished up, uh, on the planting side.
21:45
I know there's pockets, especially in the Eastern Corn Belt, Ohio, Pennsylvania, um, that, uh, are way behind schedule, but overall, we're on pace.
21:53
I don't think the market's looking much at weather just yet.
21:56
It might be in three weeks based on these forecasts, uh, of some pretty dry weather, particularly in the Western Corn Belt, but right now I don't think there's hardly any, um, you know, weather premium in this.
22:05
And, and I don't disagree with Mike, um, uh, that, that we're, we're tied to crude oil, but I kinda picked up a sense that maybe we're starting in corn and beans especially to divorce ourself just a little bit.
23:23
Have those conversations gone quiet?

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