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marketeye
Veteran Advisor

Floor Talk, August 19, 2021

At 8:45am:

 

Soybeans fall 19¢, corn down 6¢.

 

Mike

 

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21 Replies
roarintiger1
Honored Advisor

Re: Floor Talk, August 19, 2021

The markets make  perfect sense. 

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cborman11
Senior Contributor

Re: Floor Talk, August 19, 2021

If you believe the pro farmer tour I have a bridge for sale.

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timetippingpt
Honored Advisor

Re: Floor Talk, August 19, 2021

Gosh,  CB, I thought you would try to sell me a "BITterCoin"    🙂

Besides, remember the data is real. The methodology is kind of flawed in that they do not adjust for grain depth on corn, but it is too early for ear weight data, which is far more accurate. This is a media tour remember and if you thought they were going to find stressed crops in IL you're on a Lucy-in-the-sky with diamonds tour.

Our beans 1200 pods. The leaves are turning yellow in mid-August but they do have 1200 pods today...  :-0

illinifarmer
Advisor

Re: Floor Talk, August 19, 2021

Had trouble paying for fertilizer and chem last year at 4$ corn.  It has doubled we need 7-8$ corn to continue paying for production.  Wake up CBOT 

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timetippingpt
Honored Advisor

Re: Floor Talk, August 19, 2021

Your post must have come from The Babylon Bee. $7 needed to cover costs, kind of funny really, thus the BB connection.

Seed is only up 5%, not 100%. Chem will be up 8% maybe. Yes, fert up 100% but it is pretty small part of the cost structure. Land rent up 10% probably. So quick math, if you had $4 cost last year, your need max $4.75 this year and the market is offering $5.50, or a 16% profit margin. No one I know had costs anywhere close to $4 for 2021, but surely some do. 

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wrightcattle
Veteran Advisor

Re: Floor Talk, August 19, 2021

for fertilizer perhaps just use manure.  And rotate some other crops in. 

I know a couple outfits that don't need fertilizer.  Period.  They just plant and spray...  And they grow better crops than some.

60 to 90 beans... 200 to 300 corn.   .10 to 20 ton hay..   Etc.  

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illinifarmer
Advisor

Re: Floor Talk, August 19, 2021

Avg, yield here with rotation and full fertilizer regiments 170bu corn 45bu soybeans.  Cost last year per acre for corn over 700$ an acre. Do the math.  Also yes everything has already gone up and will continue too. With no other increase besides fertilizer doubling I’m right around 900$ an acre next season...

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wrightcattle
Veteran Advisor

Re: Floor Talk, August 19, 2021

maybe You would be best off to quit. 

There's no such thing as a free lunch for anyone. .includibg  the energy intensive  operators. 

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illinifarmer
Advisor

Re: Floor Talk, August 19, 2021

At current price levels I break even at 210bu and let me tell ya I never have 210 avg. especially this year. Serious weather related incidents.

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