Grain Exchange – 7/9/2020

Grain exchange update with Judy Uhlenhake

Grains are trading higher today on the hot and dry extended forecast. Temps are forecasted in the 90’s and most areas will see less than ½ inch of rain during the critical pollination stage. Corn is higher today with December board sitting at $3.60. How high can the weather market push the corn price? Biggest question I hear is will we see $4.00? A weather rally can continue if things stay hot and dry for the next two weeks. Tomorrow is the next USDA S & D report. It will be interesting to see how the June 30th reported decrease in acres planted affect the balance sheet. The average trade guess is carryout is at 2.683 bil bu., down 3.323 Bil bu. from last month.

Soybeans are also seeing an upside today due to weather concerns. Export sales were on the high end as exports were better than expected. The average trade guess for soybean carryout for Friday’s WASDE report is 416 mil bus, up from 395 mil bu last month.

Wheat is rising as large exporters continue to slash production forecasts. Ukraine/Russian crop estimates are getting smaller as well as French wheat. Lower acreage forecasts in Argentina and Britain are also playing into the current rally in wheat. Wheat exports came in midrange of estimates.

Weekly export sales were solid for all crops this week.

The market is giving us an opportunity to step up new crop sales. Call you grain marketing specialist to get some firm offers in.

Keep the faith and stay safe. Have a great day!

 

From the Field 7-8-2020

Many of the corn fields are nearing or at VT. I think we, potentially, are on our way to another very good crop. Pre-tassel or early tassel is prime time to apply fungicides to help protect the crop from diseases and help with stress mitigation. In the next week or two, it will be time to contact your Landmark agronomist to get your fungicide application scheduled.

Many of the bean fields that were still looking rough a few weeks ago have really turned around and look good. Still a lot of spraying going on as the pre-emerge herbicides are breaking. Most beans are at that R1 or R2 stage, nearing R3. R3 is the time we usually see the biggest responses to fungicides and micro packages.  I have not found any aphids, yet but have reports of a few very low populations being found. The bigger concern going forward with the heat we’ve been enduring, is the concern about spider mite infestations. Keep an eye on field edges for yellowing or wilting plants.

Second cutting alfalfa is pretty much done. It’s been a few years since we’ve seen potato leafhopper numbers as high as they are right now. Populations grew fast, with some hopper burn showing in some fields that didn’t get treated after first cutting. Again, get a hold of your Landmark agronomist and have them sweep your fields.

Wheat fields are nearing maturity and I expect to see some wheat harvest starting here within a week.

Thanks, and have a safe summer.

Grain Exchange – 7/7/2020

Markets are softer going into our Tuesday morning trading session. The USDA released its weekly crop progress report Monday afternoon, US Corn was rated 71% good to excellent vs 72% expected, 73% last week and 57% last year at this time. WI Corn is rated at 79% good to excellent, up one percent from last week. US Soybeans were rated slightly better than expected at 71% good to excellent vs 71% last week and 53% last year at this time. WI Soybeans are rated at 79% good to excellent, which stayed the same as last week. Winter wheat conditions were rated at 51% good to excellent vs 64% g/e this time last year. Winter wheat harvest is 56% complete vs 41% last week and 42% at this time last year. In our trade territory the wheat is starting to turn quick, and we are gearing up here at Landmark.

Weather seems to be the talk of town as we continue to see dry weather. The 6-10 day forecast is slightly wetter with European models showing .5-1 inch accumulation over 50% of the Midwest. The 11–16 day forecast is slightly wetter, but temps will continue to run above average with highs ranging from 88-94 degrees.

The markets are now patiently waiting for the USDA to release the July 10th Supply and Demand report. Ethanol margins increased yesterday as volumes are lower at Argo and the NY Harbor. US Farmer selling has started to slow as the markets back off ahead of the report.

Even though markets have backed off slightly, stay accountable to your marketing and cease selling opportunities as they arise. Give us a call if we can help you!

Have a great day!

Katie Demrow

Grain Exchange – 7/2/2020

Grain exchange update with Melissa Schmidt

Happy Thursday! Markets are set to close at 12:05pm for the long weekend. Markets will open back up on Sunday night at 7pm. Markets are still watching the weather, which is seeing more rain and less heat.  Some drought areas have changed but nothing to crazy.

Corn seems to be taking a break this morning. Corn market has gone up about 30 cents. Exports are on the lower side. Make sure to look the Spring 2021 and Fall 2021.

Soybeans are up with exports to China announced for 2020/2021 marketing year. Exports for soybeans in old crop are disappointing and slightly above expectations.

Make sure to have offers working from now thru 2022. Making a marketing plan will help you reach goals and take stress off you. Contact any one of us and we will be more than happy to sit down and make a plan.

Have a safe and fun 4th of July!

Melisa

 

From the Field 7-1-2020

In my area we are finishing up the last bit of spraying on corn and beans to get us to canopy so now we need to keep an eye on the alfalfa. Alfalfa has had rising pressures of aphids and potato leaf hoppers on every field I have swept so it would not be a bad idea to spray for some bugs and while your out there maybe look into a fungicide or micronutrient. Keep an eye on the corn and beans for any bug pressure as well because we have seen some different species here and there but that does not mean they won’t hit thresholds.

Now is the time to take note of what fields are doing well and think about aerial treatment of fungicides or fertilizer in a month to give it that extra boost or just to protect the investment made for that crop.

 

At this time we are approximately 945GDU’s (Growing Degree Units) to a plant date of April 25th.  This is great news as the norm for us is 845GDU’s. Last year we were 80 GDU’s behind norm so let’s hope this trend continues with 100GDU’s ahead of norm means a higher yield potential, TW and dry down. We just received a much needed rain fall on Monday which pretty much covered a good share of our trade territory. Rain amounts ranged from .3” to a staggering 4”.  The rain came fast and hard so we all know that a down pour like that only gives us a portion of retained water while the rest raced for the ditches.  Regardless of what we received, it was a welcome sight for most of us running hard to finish last few acres of post emerge spray and post pass of nitrogen.

The field scouting has been relatively simple as our pre-emerge herbicides have performed well holding weeds back for our crop to get established. Giving our herbicide plans a grade for efficacy helps for future planning for weed spectrum. Corn and beans are growing fast so staying ahead of the weeds is key.  Be sure to keep looking over fields in case there are any escapes to eliminate any surprises in the fall.

We will be doing aerial fungicides so be sure to contact your local agronomist to choose the best situations for the best fungicide responses. Some hybrids are high response to fungicide at tassel while others are not, however, some environments will warrant a treatment. Stay safe and stay well.

 

 

 

 

Landmark Continues Commitment to Local Summer Lunch Programs

As a part of Landmark’s commitment to be engaged in the communities where we live and work, we’re excited to keep working with three summer lunch programs that help feed kids.

With over 800 eligible students in the DeForest School District, there is a strong need to provide nutritious meals for children. The Norski Nibbles summer lunch program is a collaborative effort among local businesses, service groups, and churches, and Landmark is providing a $3,000 donation for the purchase of fresh produce and other products from the DeForest Area Farmers Market. We are also contributing beef sticks. The food is distributed at several sheltered parks from 11:45 a.m. to 12:15 p.m., on June 11 through August 29.

The Lunch in the Park summer food program, from Edgerton Community Outreach, understands that many of the children who receive free and reduced lunch at school suffer from a lack of food options at home in the summer. Landmark is sponsoring for a fourth year. Program staff and volunteers are packaging and delivering meals to 158 kids in Edgerton on Mondays and Wednesdays, and each child receives two lunches, totaling four lunches per week.

United Methodist Church in Milton and One Apple Lunch Bunch are providing free, nutritious meals each weekday for all students 18 and under who face food insecurity at home. This is our third year sponsoring the program. One Apple Lunch Bunch runs 11:00 a.m.-12:00 p.m. on Mondays and Wednesdays at Harmony Elementary School, and on Tuesdays and Thursdays at United Methodist Church, from June 8 through August 30. Landmark is proud to continue supporting the humanitarian efforts of these outstanding summer lunch programs throughout Wisconsin.

 

 

Landscapes Monthly Newsletter – July 2020

The monthly Landscapes Newsletter is sent to Landmark Services Cooperative members with each monthly statement.  View the Landscapes Newsletter for news and important information from Landmark Services Cooperative.

Grain Exchange – 6/25/2020

Grain exchange update with Kasey Baker

After several days of much needed rain we are seeing many of the crops thrive across our Landmark footprint. Rain is one of the likely factors we are seeing red on the Chicago Board of Trade this morning.

Corn is trading lower today. Ethanol production is tapering off as COVID-19 cases rise again. Corn is 72% good to excellent which is up one percent from last week. Wisconsin, Iowa, and Missouri are holding the crop rating up. However, Illinois and Indiana are below 60% good to excellent.

Soybeans are also trading lower than yesterday. The press released that China’s “Phase 1” deal might be over. Differences between the US and China seem to be getting in the way of purchases this week after several purchases in prior weeks. Beans are 70% good to excellent across the US. Wisconsin and Iowa are over 80% good to excellent. Again, Illinois and Indiana beans are not fairing as well.

Wheat has been mixed today but July wheat is currently up 5. Harvest is starting back up after couple days off for rain. Yields are looking better than expected with a late frost which has been knocking the wheat down the last 3 weeks in a row.

With markets down it is a good time to remember to lock in profitable levels when there are small rallies in the market. The Grain Marketing Specialists have been locking in grain all the way out to 2021 to hopefully manage risk on future bushels. Please call one of us for help on any grain marketing questions.

Have a good day!

Kasey Baker

 

 

From the Field 6-24-2020

Corn stands that were planted early emerged unevenly due to an extended period of cold soil conditions. A combination of nitrogen and sulfur top dress application, plus warming temperatures and moisture, should improve appearance. Corn tissue test results over the past two weeks indicate deficiencies in nitrogen, sulfur, boron, and zinc, and soybean tissue tests also show deficiencies in manganese and copper.

With continued wet conditions, growers should plan to protect their crops with fungicide applications. Livestock producers are becoming increasingly interested in fungicide use on alfalfa and corn intended for silage. Sweeping alfalfa yielded threshold levels of aphids.

Please reach out to our agronomist for scouting recommendations as we move through this critical phase of the growing season.

 

In our eastern trade territory, we are finishing up post applications on corn, whether topdressing or spraying, and soybean post-spray applications are starting to pick up. We should be thinking about running Warrant or Dual to keep the waterhemp at bay.

We have also been seeing some infestations of armyworms, mainly in conventional corn and/or wheat fields. We did see some armyworms work over to traited corn, with lower numbers. If armyworms get to be an inch and quarter long, they are at the end of larvae state and will be pupating soon. They will not do a lot more damage after that, but we will most likely have another cycle, so if you have 2-5 per plant or per sq. foot, you should spray asap—the damage can be terrible, with all leaves stripped or heads getting clipped. Contact your Landmark agronomist to look over these fields if you see anything out of the ordinary.

 

 

 

 

 

Grain Exchange – 6/18/2020

Grain exchange update with Judy Uhlenhake

Corn is trading higher today with concerns of hot and dry weather.  Rain is forecasted for the next couple days but some of the models are backing off on the amounts.  They are also predicting hot weather the last week of June.  Ethanol production continues on an upward trend, with 841,000 barrels produced last week; a .5% increase from prior week. We are down 22% from a year ago.  Fuel demand and ethanol production seem to be leveling off but blending rates remain strong. Weekly export number was on the low side. Chinese corn demand has been weak, they would need to purchase 10 million bushels every week until end of year to meet phase 1 targets.

Soybeans are higher.  Export sales were large with confirmation of the Chinese buying.  China committed to buying 1.65 billion bushels in 2020.  The U.S. would need to load out 31.2 million bushels per week to meet that level.  Currently we are averaging 11.7 million bushels to China 22 weeks into the year.

Wheat is down a couple cents.  Wheat futures put in an eight month low yesterday.  US winter wheat harvest is picking up pace.  Weekly export sales were toward the high end of estimates.

The market is going to closely watch the weather the next couple weeks.  Keep talking to you grain market specialist on your price goals and updating your marketing plan.

Keep the faith and stay safe.

Have a great day!

Judy Uhlenhake