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rsbs
Senior Advisor

Tight old crop supplies or hoarding?

Local coop unit train bid was $7.41, same as one of the area ethanol plants. Savage beans still over $15. 

I am closing in on 100 % sold on old crop, still waiting on new crop. If the new crop is bad, we should still see new highs. If it isn't, the guys that contracted in April will be eating steak while the rest of us eat hotdogs.

I have been checking fertilizer prices and found a non-coop with prices that will work at the current levels of corn and soybeans. 

Sometimes the coops have too many levels to pay for. Bigger is not always better.

6 Replies
Hobbyfarmer
Honored Advisor

Re: Tight old crop supplies or hoarding?

had first rain that could drown a bug in the rain gauge since June.

.79" way too late for the area corn, in the last two weeks most corn around here fired at least to the ear. Beans were also going in reverse.

Pretty sure corn will be close to a crop insurance pmt around here.

Corn basis receded around here last week to only +50¢ at best. Sept bid month.

$1.10+ basis at bean plant in Des Moines. Nov bid month

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roarintiger1
Honored Advisor

Re: Tight old crop supplies or hoarding?

The “plus” basis is eroding quickly here in NW Ohio. 

Our crops around here must look pretty good. 

timetippingpt
Honored Advisor

Re: Tight old crop supplies or hoarding?

Roaring...your crops look pretty fantastic for the most part, high of 79 extends ear fill. I'll admit your beans were too wet for too long so maybe only average on the beans. 🙂

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Hobbyfarmer
Honored Advisor

Re: Tight old crop supplies or hoarding?

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rsbs
Senior Advisor

Re: Tight old crop supplies or hoarding?

grain prices are blasting off again....$7.71 corn at the local feed mill.....$15.81 Savage barge bid on soybeans. 

One thing is really standing out.....yesterday I read a small story that China is in the midst of the worst drought in sixty (60) years. My lifetime.

Yet, this has not even been reported on, and the effect this is going to have on the world, the wars of choice, trade, prices and inflation, etc.

Might be the biggest sleeper story of the decade.

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timetippingpt
Honored Advisor

Re: Tight old crop supplies or hoarding?

Just to add another untold story, the EU crop in many many places has been toasted alive. Saw some pics from SW France that were pretty weak even under irrigation. Dryland in spots is like Ohio when it gets dry and hot (not Iowa).

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