With harvest being so late and strung out in 2019, many of us are seeing stronger basis levels off the combine than in years past. These firmer basis levels can provide a better option than commercial storage or DP to stay long the market on your grain. Current basis levels are around -9 cents the… Continue reading Basis Contract a Possible Late Season Option
On November 8th, the USDA released crop production estimates based on November 1st conditions. They gave us some bullish numbers, dropping the corn yield to 167 bushels per acre from 168.14 in October and 5.3% lower than 2018’s 176.4. On the production side, they are estimating the crop at 13.661 billion bushels vs 14.420 for… Continue reading November USDA Report
Oct 1st Dec corn futures 3.87 and cash price of $3.61 Nov 1st Dec corn figures 3.89 and cash price of $3.84 Oct 1st Nov bean futures 9.19 and cash price of $8.82 Nov 1st Nov bean futures 9.24 and cash price of $9.20 We have seen nearby cash corn up 23 cents for the… Continue reading The Month of Basis Appreciation
It was anyone’s guess as to what direction the USDA would trend with their October WASDE yield estimates. Two well respected private groups released updated estimates before the report. FC Stone bumped corn 1BPA to 169.3 from their September estimate while dropping beans 0.2 BPA to 48.1. Informa took corn down 2 BPA to 167.5… Continue reading October USDA Report
What is the “Top-Up” Payment? Have you heard of the “Top-Up” payment and wonder what it was? Last month, the USDA announced an additional payment will be made for Prevent Plant. Producers with Yield Protection (YP) and Harvest Price Exclusion will receive a 10% top up payment, while producers with Revenue Protection (RP) and Harvest… Continue reading What is the “Top-Up”Payment?
Well the September USDA crop production report has come and gone. Looking at the numbers of the Sept 12th report, the initial reaction in corn and wheat was lower, but they rebounded as the bean market continued to find strength on demand ideas. Supply was not cut as much as the trade was anticipating in… Continue reading September Crop Production Report