Grain Gleanings

Grain

By Hunter Behrens, Grain Originator, Lyons

Agricultural markets were mixed Wednesday at midday with feed grains mostly lower while the soybean complex was higher across the board. With fresh news scarce technical considerations appeared to be driving Wednesday’s price action. The weather shows widespread rains across the Midwest early this week with much cooler temperatures expected through the end of the week. Overnight lows are expected to dip into the mid 20’s this weekend for the Dakotas, along with parts of MN and NW NE. Above normal temperatures are expected to return for much of the nation’s midsection in the last week of April. Widespread rain is still lacking for much of western KN along with OK and TX panhandles for the next week. Heavy rain fell across the drier areas of South America in the past 24 hours and look to possibly continue through the week while Argentina is expected to dry down into early next week.  

Markets will remain on edge due to Geo-political issues and the inability to handicap when the next shoe drops. The big Geo-political issue of the Israel/Iran conflict has barbs being thrown back and forth for the last couple of days. Concerns about further escalation will continue and will add to volatility.

Rain has blessed most of our trade area and will help restore the water table after the past few years of droughty conditions. We still need many rain events from now until mid-August, but every bit helps. The 10-day forecast looks like we may see some rain next week and into the weekend which will slow down some eager farmers wanting to get a start on planting. I hope everyone has a safe and speedy spring planting season!

4/19/2024

Grain Trade

By Matt Morog, Grain Department Manager

Last week we were given the 2024 planting intentions. Corn was reported at 90.036 million which is 1.75 million below the trade guess and 4.6 million below last year’s final planting number. Soybean reported in at 86.5 million which is right at the trade guess, but 3 million more acres than last year’s final planting figure. Overall concern is that the US is net short roughly 6 million acres of principal crop intentions vs a year ago. We are going to likely add some acres planted before it’s all done, but it's never been more than 500,000 acres between March intentions and final.

The report gave us a friendly reaction higher on both corn and beans but was quick to give it back as we started this week. I think the trade is very cautious in thinking we are going to see that significant of a decrease in planted acres. I believe the total acres planted will only grow from here on out. Hard to imagine we lose this many acres in such a short amount of time. I’m still convinced any planting carrot we receive should be sold.

4/5/2024

Market Takeaway

By Jake Moret, Grain Originator

We can be thankful that the USDA is letting us have a Happy Easter. Thursday’s report was bullish for Corn and Wheat. My takeaway after the market closed is that the corn spreads don’t want to play ball with this report long term. This is a well-received breath of fresh air and let’s take advantage of getting that DP stored grain turned into cash instead of interest. We've had some interest in farmers pricing some fall crops, please don’t be afraid to reach out and let’s start painting that new crop picture.

3/28/2024

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!