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Senior Contributor

Re: Floor Talk June 21

I passed through a small town in NW KS yesterday where I saw a groundpile of corn.  I was actually surprised this late in the year to see any corn piled outside.  It looked as though it had been tarped, but the tarp was removed as it appeared they were just starting to load it out.  If they still have corn piled outside, it really makes one wonder how much they have in their elevator inside storage?  Over the past five years, most guys around here keep 10,000+ bushels on hand until at least August just in case.  I'd venture to guess there's still a fair amount of corn around here.  I've always wondered why corn couldn't move east because nearly all of our wheat and soybeans do.  We could easily feed the two ethanol plants that shut down, and they are closer than where the wheat goes.  I'd guess two things came into play for their shutdown:  first the margins just weren't there, and second being they could make more money reselling committed corn than grinding it.  I'd venture to guess this has been in the mind of one of the local ethanol plants here since February as I tried to get a summer contract on distillers and they said they didn't know if there would be distillers through the summer. 

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Senior Advisor

Interesting take on wheat vs corn for export.

My market in the PNW has Portland is the delivery point to the Pacific Rim and Middle East. Corn soy and wheat, most from the Midwest, ships out from here. Vancouver B.C., just north is a huge wheat shipping point also.

 

Corn = $8.34 for 60 lb delivered to Portland. SWW, the variety grown here for export, is 7.25 delivered to Portland as a 60lb bu after taking a big jump here this morning. I would not say that is the relationship the exporters actually sell it for but, it's a good comparison.

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Frequent Contributor

Re: Floor Talk June 21

Marketeye,

I appreciate the work you do and the forum that you have here.  BUT, the comment that yest . rain was fairly widespread was stupid.

It was widespread from sw Iowa to NE Iowa and they were blessed with a good rain. But Illinois got nothing as well as most of the ECB.  As I see it, maybe a line from Milwaukee to Omaha, north of it has had rain and are for the most part ok, south of it is hurting to very bad. not a perfect line but close.

 

In N. Ill we have had .4 since June 1, better than some, but 3 days of 90+ and 30mph winds has really dried everyone out.  Corn is not rolling today because of cooler temps, but no rain forecast for rest of month.  We had .3" in June 1988.  We may get a short relief from heat, but still no rain in the front that moves through.  I think big trouble lies ahead for July.

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Veteran Advisor

Re: Floor Talk June 21

Highyields, the funny thing is, the local Cargilll, still has a little corn on the ground, but the ethanol plant can't get it, because it is 'spoken for', and the ethanol plant, and Co-op are both scrambling for any corn they can get.

This is central NE, straight North of Kearney about 50 miles

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Senior Contributor

Re: Floor Talk June 21

I am also realizing there has been no dissussion of the high overnight temps during this heatwave. Corn needs to cool off at night but can't when lows stay above 70. The lack of cool nights is contributing to this evaporating carryover. In a few weeks we'll start talking about ear length. That will start to tell the story..

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