U.S. Secretary of Agriculture Sonny Perdue announced the second tranche of 2019 Market Facilitation Program (MFP) payments aimed at assisting farmers suffering from damage due to unjustified trade retaliation by foreign nations. The payments will begin the week before Thanksgiving. Producers of MFP-eligible commodities will now be eligible to receive 25% of the total payment… Continue reading Second MFP Payment Will Be Issued Next Week
Basis Contract a Possible Late Season Option
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
November USDA Report
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
The Month of Basis Appreciation
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
October USDA Report
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?
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?
September Crop Production Report
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
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UFC 99th Annual Meeting
Ursa Farmers Cooperative is hosting their 99th Annual Meeting on Tuesday, August 20th at the Oakley Lindsay Center in Quincy. Registration process begins at 5pm. The Western Illinois Pork Producers is cooking up porkchop sandwiches for our guests to enjoy and as always Kathy Neisen will have some tasty sides and even more delicious desserts… Continue reading UFC 99th Annual Meeting
World Agricultural Supply & Demand Estimates
With the WASDE report on Monday August 12, 2019, the private firms have quesses all over the board, for production, yield, and acres, with some using the last USDA acreage numbers and some using what they perceive to be adjusted figures. The production numbers on guesses have a range of over a billion bushels of… Continue reading World Agricultural Supply & Demand Estimates
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