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Hobbyfarmer
Honored Advisor

Getting close

beans over $14 for April, May, June cash.

24 cents up near by $13.98 cash

22 Replies
Hobbyfarmer
Honored Advisor

Re: Getting close

might be two of the excuses for this afternoon's run up?

For more news down there click on "news" in the green header.

A number of recent postings of weather issues down yonder.

 

https://www.soybeansandcorn.com/articles/9066/?page=1&

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sw363535
Honored Advisor

Re: Getting close

Really hard to imagine that first indication of problems in crop production is lack of delivery to the port at loading time.  This coming from Brazilian information sources.   Wouldn't have been hard for usda to have beaten them to the information.  But then those who release usda data never go near a bean field in the US either.

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roarintiger1
Honored Advisor

Re: Getting close

Well, it seems that small crops get smaller.  We might just be seeing the start of a bull run.   

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rickgthf
Senior Advisor

Re: Nov. 22 beans are $13.19.

At some point soon, I'm going to start booking new crop beans and kiss that $1 per lb urea & that $1000 per ton MAP & potash goodbye. 

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rsbs
Veteran Advisor

Re: Nov. 22 beans are $13.19.

at Friday's close, I see where I can sell corn locally for $6.14 and soybeans for $14.24.

Getting pretty close to the $6.25 corn and $14.50 targets I posted a month or two ago.

Life is good!

 

 

Hobbyfarmer
Honored Advisor

Re: Nov. 22 beans are $13.19.

RSBS, what General area in the country are you?

Another question, will you move your sell target prices higher if the market gets there in next few trading days?

Sell less and hope for a home run, or clean out and enjoy a profitable year?

In my case those are all questions I don't have answers for. 

$6.02 & $13.95 are best cash prices here.

Both of those numbers are higher than my dreams at planting.

Fly in the ointment is this year's fert and chem prices and availability.

 

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rsbs
Veteran Advisor

Re: Nov. 22 beans are $13.19.

South central MN, Hobby. And those are the best prices posted from spot to July, where the markets taper off. I have home storage and semi trucks and will sell for the top when I pull the trigger on 2021 production. A 30 mile radius is what I consider local markets.

The windy days and lack of snow here make me think of other crop years such as 1983 and 1988 and if a drought is coming , I don't wish to have much forward contracted.

The other side of the coin is the inevitable conflict with China, and what that will do to grain demand and price.

Hard spot these days to make predictions. I think you were the one that said a decade ago to grow it, bin it, and then price it.

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BA Deere
Honored Advisor

Re: Nov. 22 beans are $13.19.

Poet in Hanlontown  is $6 for overrun, Christensen feedmill $5.93 about like elevators.   A guru on twitter said something that people much smarter than me claim to be very profound "every year January comes after December"  apparently if you understand that, you`ll be much richer. 

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rsbs
Veteran Advisor

Re: Nov. 22 beans are $13.19.

sounds like Chauncy the Gardener in the movie "Being There" with Peter Sellers.

Who knew how prophetic that would turn out to be?

 

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