Floor Talk August 6

[Shaggy98]

Telling one to hold on is easy, when you're the one waiting it seems like an eternity. The wait period only plays into the hands of lower yields.

Even if favorable rains return in the later half of Aug, how much of the cream will be removed from the crop during this "Waiting Period"?

[roarintiger1]

Shaggy, only real farmers would understand that.......................

[marketeye]

Shaggy98,

You are exactly right. I wouldn't want to be that person sitting in an area with a short crop in a lower market year. That's a double-negative. The models do favor rain. But, will it be too late? Maybe, although didn't we have some late rains, last year, that saved some soybeans?

Mike

[nwobcw]

  .6" last week and 1.8" since Monday of very badly needed rain.  Beans barely knee high, corn 7 feet and less.  This will probably be the worst year here in NW Ohio since '08.

[highyields]

Once again we are short in the rain,,,,,,,We got .20" last weekend, and that was the first since the 12th of July which was .50"   

We need a good rain, especially for the alfalfa,,,

[SouthWestOhio]

Our last measurable rain was .15" on July 30. Corn color is fading with some areas fired half way up to the ear.  We had an inch July 7-8 but only .2" each of the next 3 weeks. Please talk to the rain gods for us.

[roarintiger1]

Yep........just confirming that Ohio will not help to increase the national yields this year.......

[ECIN]

Sorry about hogging all the rain Bins but if Indiana is going to set a new record - we need most of your rain - but will see if we can manage another .15 for yeah  . 

Really do hate to hear that bins - don't how many times that has happened to us too .

[sw363535]

Here is the way Mike spins the data----- or his unnamed source.

On Wednesday, the Energy Information Agency released fresh ethanol production numbers. It looks like less ethanol was made, last week:

According to EIA data, ethanol production averaged 902,000 barrels per day (b/d)—or 37.88 million gallons daily. That is down 52,000 b/d from the week before and a 13-week low

Arlan Suderman same data same time frame

Data suggests ethanol corn usage at 94.7 mln bushels in week ending Aug 1, vs 100.2 mln prev week & 89.6 mln previous year.

Ethanol production dropped to 902K barrels per day in week ending Aug 1, down from 954K previous week, up from 853 previous year.

Estimated marketing year corn usage for ethanol is 4.58 billion bushels, up 408 mln bu or 9.8% from previous year.

Corn usage to date for ethanol production exceeds seasonal pace to hit usda's target by 18 mln bushels, up from 15 mln previous week.

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Mike I don't know, it just has a different feel to it ------- every comment on a report is spun by what we choose to  omit.  

[Hobbyfarmer]

How about this as a headline?

After running balls to the wall for months the ethanol output backed off just a few % points for some much needed equipment maintenance.

Or this one...

After the large price decline of raw ingredient prices due to a bountiful harvest last.year many E.plants are now having to pay a positive basis to source  enough grain to maintain peak  output..

Maybe a shorter one...

E plants having hard time maintaining 110% of plated capacity.