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Blacksandfarmer
Veteran Advisor

Re: Bin - Lock (weld) - Go On Vacation

Jen, NOBODY truly knows where the market is heading. The large corn crop came out of the eastern cornbelt, i.e Illinois, Indiana, Ohio and southern Michigan, NOT Maryland. I took a trip to the local Andersons grain terminal Friday. They still had an outdoor covered corn pile, with a steady stream of farmers coming in to dump. It seems as though the spike in prices had the countryside buzzing with activity for a change. For those with on-farm storage, it's been a blessing, and although many believe we are heading higher, its a good time to take some profit and pay some bills. The Russians handed us a grain marketing opportunity on a silver platter, but I wouldnt get too greedy here. My thought on the market is this: old crop soybeans will steal the show the rest of the marketing year while corn holds steady. New crop beans will probably get beat up some in the planting intentions report while new crop corn should rally on weather concerns heading into April. Weather probems will be a given somewhere in the corn and soybean complex.

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idleriver
Contributor

Re: Bin - Lock (weld) - Go On Vacation

Black,
I am not making any marketing projections here but Albion never clean their outdoor piles up until summer and it has been nearly impossible to move grain the last three months so now that we had two weeks of decent weather coupled with the onset of frost laws, there is a lot of pent up trucking. By the way that plant is always a parking lot. Oh yeah they are also being stuffed with wet corn.
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Blacksandfarmer
Veteran Advisor

Re: Bin - Lock (weld) - Go On Vacation

Idleriver, good to see you back on here! My wife and I took a trip over to the Reading elevator. It was my first time touring that facililty. If I remember right, the grain buyer I spoke to said they fell just short of their 10 million bushel goal, but 2013 was still one of the best years they have had over there. He said they dont always have an outdoor corn pile there in Reading and that most of their grain is shipped by rail. He also said they wont start working on that pile until spring or summer. I dont know how many farmers were selling cash grain or delivering contracted grain, but it was busy last week. BTW how did your corn yield this year? I had a couple fields almost hit 180 bu. Thats pretty good for southern Branch county, and my personal best..... Beans.. Ive had better lol!

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timetippingpt
Honored Advisor

Re: Bin - Lock (weld) - Go On Vacation

Jen said,  "There's a lot of uncertainty right now".

 

The time to sell is normally when this criteria is met, not later. just fwiw.

 

Also, I am not so sure we plant that many, if any, fewer corn acres in 2014. What is the incentive to do so? Corn is easily $100/acre better than any other choice almost everywhere, odds of a late spring are very low. We might lose a few mil acres in the dakotas, but that is hardly high yield corn country.


Making assumptions always brings risk into the equation. The bin doors were built to be opened after a normal post-harvest rally. When a market meets our expectations, we tend to capitalize and accept success. Changing the expectation, after the first one is met, to a higher level is almost never a good idea.

idleriver
Contributor

Re: Bin - Lock (weld) - Go On Vacation

Hey black
I thought you were talking about Albion. There only running about two days a week right now.
I had some good beans. One field averaged 65 bu. and the farm ave. was 53. I was a little disappointed in the corn. The way things looked I thought we would break 175 farm average. We didn't. I think that we need some tile in the coldwater ground. Landowners want me to put it in and I am reluctant to invest that much money in his ground. Still a good year.
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farmerguy89
Advisor

Re: Bin - Lock (weld) - Go On Vacation

Kudos to time... I don't think the planters will stop if weather is nice
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