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sw363535
Honored Advisor

feedyard talk

Shipped 8 loads in a pretty nasty wind this afternoon

It was another good day in the markets-- historically not the way we expect.

Corn up 4      at  4.47

Beans up 10  ---- 12.60  on the leading month..... we seem to be passing right on through the 12 range.

wheat up 8.5    Hrw   5.88

Cotton today had green finally this week and is in the 76 cent per lb range......... that is 11 cents higher than 2 months ago with gins running and fall bails being gathered.

and to be noticed after several strong grain days   Meats are all up as well.   Demand is good with corn going into the lots now in the texas panhandle with a 5 on the front.   Still some harvest contracts cleaning up in the upper $4 range But at least 6 trucks today on a January contract were delivered from our facility with a $5

How will our handlers in DC fix this?  Doesnt look like Brazil corn is gonna slip in soon.

 

 

4 Replies
sw363535
Honored Advisor

Re: feedyard talk

The overnights heading into Christmas eve, at nearly 10 pm are roaring ahead with corn up 1.5 to 2 at $4.48   beans are up 9 cents and have already seen the north side of $ 12.70 for the first time since the "Pre Covid" days eons ago.  Will this "blessing" of a Christmas week where the trucks needing corn will begin showing up at 7 am on Christmas eve with a $5 contract and someone else pays the freight---- extraordinary ---- yet will it make us forget the difficulties of 2020......NO.    There are just 8 days left in 2020 and if you grew up in western kansas in the late 50s and early 60's, you might know this reference----- I figure sometime this week I will have this dream of  "Freddy Fudd the forest ranger" and his shotgun, at the podium dictating covid procedure while the cartoon airs, and telling us we are not essential workers.  Henry Harvey has been gone for many years but in 2020 any guy who knows his cartoons knows it would be a fitting ending for 2020.

 

Price goes up when it shouldn't ------ read the usda report called "feed outlook"  

 https://www.ers.usda.gov/webdocs/outlooks/100046/fds-20l.pdf?v=6546.2

It is just another publication that reminds us there is drought in the world.  I live on the fringe where we live through cycles of weather.  The climate is changing daily yet not at all.  Seasons of wet and seasons of dry.  Even in South America.  Even in DC.  

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BA Deere
Honored Advisor

Re: feedyard talk

If corn busts through $4.50, that would be a great psychological area, next floor 5 bucks?  Elaine Kub on Market to Market said prices on beans haven`t begun to rationed yet.  If LaNina goes into summer, look out!

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sw363535
Honored Advisor

Re: feedyard talk

I am leaning the same way.  Since we continue to try to destroy the dollars value by spending irrationally, which includes theft of tax money by each individual congress person who votes for the unknown , ,,,,, I do not see the price of grains that are obviously not in storage in Iowa going down until a substantial crop is raised and delivered somewhere.

Poor management comes home to roost.  And as Hobby points out--- once a "just in time"(30 to 45 day surplus) world system of commodity delivery gets behind with supply or storage issues, it is going to take a long time to get it back up to its effeciency level.  If production is the problem, then it is gonna take a couple of actual great crops to ease the tension.  

Or usda is gonna have to deliver some of those federal bushels it has in storage.  

 

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Hobbyfarmer
Honored Advisor

Re: feedyard talk

If 75% of the beans this year were bought for $10 or less and are still in the pipeline, my bet is that very few are being sold with a 11 or a 12 .

Will take another few months for them to be shipped or consumed. 

I'm in no particular hurry to sell the last 40 % of mine.

Corn on the other hand is $4.45 cash right now and I may start some recreational truck driving soon if the price continues to crawl higher

Looks like the bulls got thanksgiving and Christmas.

Keeps this up and might becone to wondering if there is a way to expense a Lamborghini as a farm vehicle...

 

 

 

 

 

Truth be told I'd rather have a hundredish year old something for parades and Sunday drives.

A museum in southern Missouri had many cars for sale except for the red one in front I drooled over.

 

 Merry Christmas 

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