By Jake Moret, Grain Originator
With the end of August nearing and the silage choppers running, fall is coming fast! I feel we will have an on time or maybe slightly early start to harvest this year. Now into the markets, I don’t want to be a bear but we’re going to NEED some outside demand if we want to see a 5 in front of the cash corn market again. US new crop export sales are the lowest level since 2019 with China currently 91% behind last year for export CN sales and 46% behind on SB sales. Between low export sales and the Mississippi getting on its drier side again all I can ask is that you’re communicating with who is going to be receiving your grain this fall and how much space you’re expecting to need. It is nearly impossible for us to create more space in the middle of harvest so let’s work together! Dec CN remains stuck in the 4.72-5.10 range until we have a US CN yield sub 170 bpa or some strong outside demand.
Corn and Bean Crops
By Royce Bialas, Location Manager, Dimock
Yesterday corn was up 3 cents and beans were up 12 cents. Today, August 11th, is a WASDE report. We will see if they have any changes that make the “free fall” type market stabilize. Remember production currently is a “survey” not actual. Export and demand are more solid numbers. With lower futures we may see some export demand interest, which is needed to keep the market at these levels. Export sales on the corn side were disappointing but on the other hand beans were in the above expected range. The rain we got in the week or so has helped crops stress. The weather forecast is for a little warmer and drier for the Upper Midwest, northern plains area. The corn crop may already be determined but the bean crop will take advantage of this post rain event and warm weather for filling of pods.
In closing, my thoughts are we will continue to see pressure in these markets. South American crops are looking good for the corn. The beans in Brazil were very good so they need to export more than normal because of the lack of storage. The corn crop coming will be similar, and our dollar value being strong also affects our export bushels. If you have any questions, call any of the grain merchandisers.
Wrapping Up Summer
By Becky Johnson, Elevator Location Manager, Salem
Where has the summer gone? Hard to believe a lot of schools will start within the next couple of weeks and Labor Day is just around the corner. In a blink of an eye 2023 Harvest will also begin!
The crops in the area sure have been growing with a little rain here and there and some cooler weather predicted for the coming week. We should continue to see the corn and beans prosper even more.
The grain markets are definitely reflective of the weather and how the crops are looking along with other factors that are not mother nature related.
At the beginning of this week crop ratings came in 2% down for both beans and corn from last week. Lack of demand and non-threatening weather seem to play the largest role in the weaking of the markets currently. Grain originators at Fremar locations are available to assist you with your marketing needs and questions you may have.
As I wrap up this article, I just want to remind everyone to pay close attention as you approach intersections in rural areas due to the limited visibility as the corn continues to grow and make it hard for you to see vehicles.
Enjoy the rest of your summer and stay safe.
Central Farmers has a mobile app that provides real time business information at your hands. By partnering with BUSHEL, we are able to empower you, our producers, to make informed and quicker business decisions with CFC.
- Access scale tickets, contracts, bushel balances, cash bids and market information— all from your smartphone.
- Access scale tickets virtually in real time, allowing you to know how many bushels you have delivered and how much still needs to be delivered. The Scale Ticket interface is easy to understand and tracks grade factors such as Moisture and Test Weight.
- Access your contracts that you have with any CFC location. You will be able to see the status of any contract to find out whether it is filled or is still open.
- Access real-time bushel balances of your grain across all CFC locations.
- Access delayed cash bids for all of our CFC locations. You will be able to access Grains, Livestock and Ethanol Futures from CME or MGEX.
You can find the App on Google Play for Android devices or the App Store for iPhones by searching for Central Farmers. Download it today!
FREMAR LLC strongly recommends farmers verify their seed varieties are approved for significant export markets.
We plan to selectively test loads delivered to our grain handling facilities.
We reserve the right to reject crops with unapproved traits.
If you have seed that is not approved for significant export markets, we encourage you to check with your seed sales representative to see if your order can be exchanged for seed that is approved for global use.
It is ILLEGAL to dump treated beans at ANY grain facility!
the bushels on these contracts must be cashed out at the closing price on that date
and the check will be mailed to the producer.
Please click here for the official South Dakota Public Utilities Commission Warehouse Division Ruling
Monday - Friday day hours are 8:30am - 1:15pm.
Central Farmers Cooperative continues to purchase grain for all locations while the CBOT is open and closed.
The extended hours continue to put more volatility into the market. We encourage our customers to continue to utilize our offer system. Your offers have the potential to be filled at any time while the market is open.
Please call your local Central Farmers Cooperative location to place your offers as well as any questions you may have.
Thanks as always for your patronage.
Grain Department Manager
Lead Grain Merchandiser
Lyons Grain Originator
Canova Location Manager
Freeman Location Manager
Salem Elevator Location Manager