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Veteran Advisor

Floor Talk, August 27, 2021

At the close:

At the close, the Sept. corn futures settled 5 1/4¢ higher at $5.58. New crop Dec. futures closed 3¢ higher at $5.53. March corn futures settled 3¢ higher at $5.60.

Sept. soybean futures closed 8 3/4¢ lower at $13.59 3/4.

Nov. soybean futures closed 3¢ lower at $13.23 1/4. January soybean futures finished 3¢ lower at $13.27 3/4.

Sept. wheat futures finished 6 3/4¢ lower at $7.32.


Dec. soymeal futures closed $3.50 per short ton lower at $352.40.


Dec. soy oil futures closed $0.31 lower at 60.34¢ per pound.

In the outside markets, the NYMEX crude oil market is 1.33 higher (+1.97%) at $68.75. The U.S. dollar is lower, and the Dow Jones Industrials are 234 points higher (+0.67%) at 35,447 points.

Mike

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At midsession:

At midsession the Sept. corn futures are 1 1/4¢ higher at $5.54. New crop Dec. futures are 1 1/2¢ lower at $5.49. March corn futures are 1 1/4¢ lower at $5.56.

Sept. soybean futures are 18 3/4¢ lower at $13.48 3/4.

Nov. soybean futures are 9 3/4¢ lower at $13.16 1/4. January soybean futures are 10¢ lower at $13.20 3/4.

Sept. wheat futures are 4 1/4¢ lower at $7.35.

Dec. soymeal futures are $2.80 per short ton lower at $353.10.


Dec. soy oil futures are $0.49 lower at 59.54¢ per pound.

In the outside markets, the NYMEX crude oil market is 1.43 higher (+2.12%) at $68.85. The U.S. dollar is lower, and the Dow Jones Industrials are 221 points higher (+0.63%) at 35,434 points.

 

Mike

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At 8:45am:

 

Month ends as farmers still see great new crop prices.

 

 

Mike

 

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5 Replies
Hobbyfarmer
Honored Advisor

Re: Floor Talk, August 27, 2021

Went for a drive about Wed afternoon.

From Creston Iowa went to Maryville, Mo then west to Brownsville, Neb

Back east to interstate 29 went north to Hwy 2 then zigzaged east and north to Red Oak, ia then east back to Creston.

Crop is not perfect but is gonna make a lot of bins strain to hold it all.

Most of the corn is very close to the finish line.

Beans are mostly still green but saw a few whole fields starting to yellow. 

Yes there were plenty of stressed knobs and some corn fields shorted on nitrogen.

But plenty of bu non the less.

The big plow at the intersection at west end of the Missouri river bridge in Brownsville Neb is something to see.

Could plow 20 ft tall trees under.

 

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roarintiger1
Honored Advisor

Re: Floor Talk, August 27, 2021

The finish line is also close here in NW Ohio. In many areas, the soybeans have aborted the new pods that came out after the August 6-7 rain. It looks to me like what could’ve been a bin buster with the soybeans will now be just an average crop. Not complaining, because many other folks will be below average. But….what could’ve been. I believe we will have beans turning by the end of next week. 
The corn on the other hand looks to be well above average and will make for some seriously long lines at the elevators. 
I was at the local ethanol plant last week and probably 90% of the trucks were coming in from local elevators and not local farmers.  It appears that most on farm bins have been emptied, awaiting harvest. 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk, August 27, 2021

Beans are always somewhat of a mystery.

Looked at what will probably be my best beans fore noon.

Lots of pods. Even a few 4 bean pods, most had one bean aborted in them.

Also lots of twins. Nodes were about 2" apart and podded three and a half feet tall.

Soil damp under them.

The high fertility areas where they decided 5'+ tall was a good idea they are settled into half of that.

3.8 maturity on that farm. The 3.4 maturity on another farm are so far better behaved at 3 1/2 to four feet tall.

At least the nodes are closer together this year. In previous years I've had tall beans that had nodes four to five inches apart. Only made the combine tired by nightfall.

The June replanted one's are the only decent size to combine one's I've got at around 3' tall.

Not sure I could guess the yield within 20bu unless I said 55.

The corn is streaking to the finish line with moisture this year.

More fields of white shucked corn everyday.

Feels like an early fall, even the cockleburrs are really doing their thing too.

 

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sw363535
Honored Advisor

Re: Floor Talk, August 27, 2021

hobby not many could come as close as you to answering this so here goes........ "What % of the bin space destroyed in august 20 by derecho have been rebuilt and functional?"

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Hobbyfarmer
Honored Advisor

Re: Floor Talk, August 27, 2021

Bins over 5000 bu,  100% + some of the smaller ones got replaced with bigger one's.

Year later net gain in storage in the state as a whole.

More 30,000 to 2,000,000 bu structures every year through out the state, not just in the derecho area.

Most of the commercial sites you would not know there was a wipe out Last year.

Remember the site a Minburn just north of me 40 miles we drove into that they had a ditching excavator taking down what was left of the west two 600,000 bu bins?

All put back like nothing ever happened, just slightly shinier on the west end of the line of six of them.

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