Commodity Marketing
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Wheat Futures are Up – Cash Market is Barely Up
It appears as usual that there is a buying frenzy in the wheat futures market that has not totally transferred over to the cash market. Since early June, the Wheat Futures market has gone up by about 80% whereas the cash market has gone up by much less leading to a large widening in the […]
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Crop Tour Recap
Here are my comments regarding the crop tour: The corn crop looked good, however, most of Iowa had issues with tip-back where the water on the ground deprived the ear of the nutrients to get the last full inch of the ear filled. This is the main reason why the Iowa crop looks like it will […]
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The Crop Tour – Day 4
Today, we have a very long drive ahead of us as we traveled from Spenser, Iowa, headed north into Minnesota. We then headed west almost to the South Dakota border. We then turned north and started to do our counts in those four counties along the border. At Canby, we then turned south and east […]
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The Crop Tour – Day 3
Today was a free form day for us. We had Brian from Pro Farmer with us and he was doing multiple radio interviews through out the day so we had to stop at various times and let him make his calls in the best cell phone area that we could find. I have A T […]
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The Crop Tour – Day 2
We spent the night in Grand Island, Nebraska last night. It had rained a little bit last night during the update, but I did not expect to wake up to constant rain and to find out that we had gotten 2.44 inches of rain overnight. We left the hotel at about 6:45 and headed due […]
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First Day on Crop Tour – Part 2
Just got back from the meeting with the other participants and local growers. Looks like there were about 200 people or more in attendance. Our counts versus the other routes for the day seemed very similar. The one thing that stood out to me was the drilled soybeans in South Dakota had some wildly high […]
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Should Wheat Farmers Lock in 2011 Prices
As I write this post September 2011 wheat futures are trading at slightly more than $7 per bushel. If I had asked any wheat farmer three months ago would they like to lock in $7 wheat for next year’s crop, I am fairly certain that 100% of them would have said yes. These farmers now […]
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US Farm Managers are on a Roll
I was skimming through the Reuters.com website the other day and came across an article on how US Farm Managers are enjoying the benefits of the Baby Boom Generation of farm land transfer and the continued high farm land prices. Most of these larger national farm managers went through crisis in the early to mid […]
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Don’t Miss a Marketing Opportunity
Since the June crop report came out, wheat has rallied over a $1 per bushel, corn is up about 50 cents and soybeans have rallied also. Now, it appears that the world wheat supply is looking at drought issues around the world (except for our hemisphere it seems) and this is continuing to help wheat […]
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Lots of Corn – But We Need It
The USDA released their June acreage report today and the corn and wheat market rallied substantially based upon this report. The actual amount of expected corn acreage came in about 1.6 million acres less than the trade expected and the amount of corn on hand was about 300 million bushels less than expected. Backing into […]