04-15-2014 11:33 AM
April 15 (Reuters) - The National Oilseed Processors Association on Tuesday said its
U.S. members crushed 153.840 million bushels of soybeans in March, up from 141.612
million in February.
It was the biggest March crush since at least 2001.
04-15-2014 11:43 AM
Thanks for posting that....that explains the 30 cent run up in old crop soybeans a whole lot better than some anecodte about so and so is long cash and short futures and that we all need to Sell Sell Sell before the price drops like a rock.
$20 old crop soybeans is starting to look pretty realistiic with $100 hogs and $140 cattle chewing away, and harvest a long ways away.
No one ever did come up with the freight to get soybeans from the gulf up to southern MN processors. I am curious.
04-15-2014 09:08 PM
Just from poking around the internet, Red I would guess it would cost about $1.50/bu to get beans from the gulf to Minnesota. But, I suppose like trucking, it depends on if there`s a haul-down and barge availability and stuff like that. If the demand for beans is big in the Carolinas for the hogs, if they imported Brazillian beans that could take the pressure off midwest beans, so maybe up north could get by? Supposedly the Dakotas raise beans and Warren Buffet has been using all his trains to haul Bakken oil, so perhaps the Dakotans have a supply of beans to sell, that could be trucked in if the price is right? I don`t know, just putting this out there for someone to correct if they know differently
04-16-2014 06:08 AM - edited 04-16-2014 06:10 AM
BA, if iowa would allow those long double trailers (that are legal in south dakota) it would make it more feasible. Isn't bruce rastetter a big terry branstad campaign supporter?? If his pigs get hungry, it could happen.
04-17-2014 05:50 AM
$1.50 sounds a little cheap on the freight, but it probably is in the ballpark. Brazilian beans would come to the east,though, right? I listened to the radio yesterday, and an analyst from RJ O Brien was talking about how the market still had some work to do to ration Soybeans in the USA, and to reallocate them through basis moves. Maybe we move to a positive basis in southern MN to keep the livestock business supplied and the plants running. Out east , I guess Soybeans are 65 cents over chicago which would translate to about $16 per bushel right now. Our best bid is 16 under at the Fairmont CHS plant.
All in all, it is a good place to be right now if you are holding any old crop soybeans.
Maybe next year, and after, people are going to be more inclined to store $10 soybeans in hopes of doubling their money, although I just heard a negative nellie type tell me that we many see $2.50 corn in the fall, with a big crop. Sell, Sell,Sell!