Grain Exchange – 11/17/2020

In many parts of Wisconsin harvest has come to a close. The Fall of 2020 has been nothing but magnificent. Excellent weather conditions and great marketing opportunities prevailed! Allowing for a profound year for the Wisconsin farmer. The year of struggles has turned into opportunity. With a world that has become hesitant with actions to many underlying problems there has been a window of opportunity created to take advantage of higher prices for not only 2020 grain but also for 2021 new crop. The markets have been strong allowing for adequate prices. The cash price for 2021 may not be $10.00 beans or $4.00 corn, but solid numbers in the $3.50 or better for corn and $9.50 or better for soybeans. The numbers presented are a chance to set the base of a marketing plan.

Harvest Report:

In Wisconsin corn harvest completion is 87% which is 16 days ahead of the average. Wisconsin soybean harvest is 98% complete which is 23 days ahead of the average. The speed of this harvest is one for the record books. The abilities to move the mass volumes of quality grain this year speaks volumes of the agriculture industry. It goes to show when the weather cooperates the farmer is efficient.

Post Harvest:

Key things to remember as harvest wraps up. All grain has 7 days to be priced after your last load of that commodity. There are options to hold the payment from the 2020 crop until January. Lastly, be looking into future months for marketing. The 2020 crop does not end until it is all executed to a destination.

Additional notes:

The Landmark grain locations of Belleville, Burlington, Cottage Grove, Evansville, Fall River, Markesan, and Whitewater have returned to normal operation hours starting TODAY 11/17/2020 7:30 am – 5:00 pm Monday-Friday. Albany grain location hours are 7:30 am – 4:30 pm Monday-Friday.

Below are the links to Landmark’s Discount Schedules.

https://www.landmark.coop/wp-content/uploads/2020/09/20-corn-discount.pdf

https://www.landmark.coop/wp-content/uploads/2020/09/20-bean-discount.pdf

Landmark’s Cash Bid Link

https://www.landmark.coop/cash-bids/

 

 

Grain Exchange – 11/10/2020

Grain exchange update with Melissa Schmidt

Happy Tuesday! Markets are up this morning ahead of the monthly supply and demand report at 11am.  Corn yields are expected to drop by 0.7 per acre and soybeans by 0.3 drop per acre. Ending stocks for US and World for soybeans and corn are also expected to drop. The past 6 out of 10 years corn closes lower after this report. Soybean close lower 8 out of 10 years. Make sure to have offers in and working.

Corn harvest is 91% completed vs last year at 62% and on average 80%. Wisconsin is 78% complete on corn harvest compared to last week at 57%. Brazil corn crop has been trimmed 104.9 million metric ton from 105.2 million metric ton.

Soybean prices in Brazil spurred 3.5% increase on planting but lack of rains is a concern. Farmers in Mato Grosso have already sold 65% of the expected crop. Harvest in the US is at 92% complete. Southern states still have beans left to harvest.

Make sure to be watching the Spring market, some of our locations have $4.00 cash corn. Always be a participant in the market. Have you thought about next years crop!? We are about 6 months away from planting. Keep being active in your marketing plan.

Be safe and let’s see what happens at 11am.

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

Mon-Sat 7:30 AM – 7:30 PM       Sun 10:00 Am – 6:00 PM

Below are the links to Landmark’s Discount Schedules.

https://www.landmark.coop/wp-content/uploads/2020/09/20-corn-discount.pdf

https://www.landmark.coop/wp-content/uploads/2020/09/20-bean-discount.pdf

Landmark’s Cash Bid Link

https://www.landmark.coop/cash-bids/

 

 

Grain Exchange – 11/3/2020

Did you do your civic duty today? Have you checked the markets?

These two questions are of value today. The market traded higher in the overnight and at the open as well. All commodities being up. Soybeans are up strong early this morning. The market has been preparing itself for election day as much of the country has been too. The markets have reacted in the growers favor this morning allowing for a good opportunity to sell.

Harvest is pushing on in the countryside as most producers in Wisconsin have made the change from beans to corn in the last week. It is sure nice to see corn being shelled and tillage getting done before Thanksgiving!

Wisconsin harvest completion: Corn 55% and Soybeans 91% complete. Both Being 20 days or more a head of last year and both well ahead of the average.

Neighboring States Harvest Completion:

Illinois – Corn 89% and Soybeans 93% completion.

Iowa – Corn 87% and Soybeans 97% completion.

Minnesota – Corn 83% and Soybeans 99% completion.

As harvest continues and finishes for some make sure you are checking in on what you have on hold and what is contracted. The market’s today are presenting a good opportunity to sell at a quality price.

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

Mon-Sat 7:30 AM – 7:30 PM       Sun 10:00 Am – 6:00 PM

Below are the links to Landmark’s Discount Schedules.

https://www.landmark.coop/wp-content/uploads/2020/09/20-corn-discount.pdf

https://www.landmark.coop/wp-content/uploads/2020/09/20-bean-discount.pdf

Landmark’s Cash Bid Link

https://www.landmark.coop/cash-bids/

Harvest on!

 

Grain Exchange – 10/27/2020

Grain exchange update with Judy Uhlenhake

Markets take a tumble into the red today.  After rallying the last few days grains ended the day lower with some profit taking and technical selling.  Wet weather is expected in the lower Midwest later this week.  Warm weather is due to set in between November 3rd and 9th.

Corn prices closed lower after some technical selling and profit taking.  Prices still remain near 14 months high.  December futures were down two cents at the close.  Corn harvest is 72% complete compared to 56% five-year average.  China continues to buy U.S. corn.  Interest in U.S. corn by South Korea, Taiwan and Iran has been surfacing.

Beans followed corn lower losing about 0.5%.  Soybeans are 83% harvested compared to 5-year average of 73%.  China continues to buy U.S. beans.  In nine of the last 13 marketing years beans hit $11 and then eventually $12.  What are our chances to move beans to that level?  We would need a reduction in yield, increased China exports and some weather issues in South America.  For now, I think we should be happy with $10 beans.

Wheat closed lower today as well.  Precipitation this week has helped some of the dry areas.  Winter wheat is 85% planted compared to 77% a week ago.

Prices are at a level we have not seen in a while, reach out to you Grain Market Specialist to guide you with some marketing goals.

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

  • Mon-Sat 7:30 AM – 7:30 PM    
  • Sun 10:00 Am – 6:00 PM

Keep the Faith and Stay Safe.

Judy Uhlenhake

 

Grain Exchange – 10/20/2020

The markets showed positive movement in the overnight trading session heading into Tuesday. Many farmers in the mid-west are becoming anxious with the snow and rain in the forecast. When given the window of opportunity to harvest farmers are sure able to get it done! Between October 5th and 13th Wisconsin farmers moved from 18% completion of soybean harvest to 46% completion.

Soybeans

Wisconsin continues to look to finish soybean harvest. The state is 72% complete with harvest and that is 24 days ahead of last year. The U.S. is 75% complete with soybean harvest. Iowa 90%, Illinois 81%, and Minnesota 96% harvested. The bean market continues to stay strong during this 2020 harvest and is encouraging beans to be sold at the elevator this fall.

Corn

Wisconsin corn harvest is starting to ramp up as 27% of the corn is harvested which is 3 weeks ahead of last year. Corn being received at the elevator from the field is ranging from 18%-22% moisture and of course there are outliers in each direction. The U.S. corn harvest progress is 60% complete. Iowa 65%, Illinois 66%, and Minnesota 63% harvested.

Wheat

The wheat market has made some strong moves over the last few weeks. The U.S. is 77% completed with winter wheat plantings. Wisconsin is 86% planted. Now is a good time to be looking into marketing options for 2021 and the 2022 crop.

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

  • Mon-Sat 7:30 AM – 7:30 PM    
  • Sun 10:00 Am – 6:00 PM

Below are the links to Landmark’s Discount Schedules.

Landmark’s Cash Bid Link

Stay safe and harvest on!

Grain Exchange – 10/14/2020

Grain exchange update with Melissa Schmidt

What a different harvest season! 61% of soybean harvest is done compared to 42% on the 5-year average. Last week beans were only 38% harvested. Corn harvest is 41% compared to 25% least week and only 32% on 5-year average.

Corn is seeing some pressure on the market since we are well under way. The forecast will keep the harvest moving along.  Beans are recovering from their whip lash on Monday. Beans are seeing support from bean meal and the weather staying a bit dry in Brazil. Wheat is also seeing some pressure from planting which is well ahead of pace, and weather maps have areas that need rain getting some in the next ten days.

Please make sure to have offers working for now grain. Also don’t forget about your bin corn or beans in the Spring 2021. We have plenty of options at Landmark. Make sure to call your grain marketing specialist.

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

  • Mon-Sat 7:30 AM – 7:30 PM    
  • Sun 10:00 Am – 6:00 PM

Below are the links to Landmark’s Discount Schedules.

Landmark’s Cash Bid Link

Stay safe and harvest on!

Grain Exchange – 10/6/2020

There has been a lot of excitement in the market over the past week. The USDA Grain Stocks report which was released last week informed us that the US Grain Stocks were lower than expected resulting in a nice pre-harvest run up. These strong prices continue to hold. There has been some movement in the corn market over Monday night gaining a few cents. The soybean market continues to stay strong and has moved up nicely overnight into Tuesday morning up 12 cents. There is another USDA Crop Production and WASE report coming on Friday October 9th. Expectations are that yield will be lowered again. People are predicting that corn yield will move from 178.5 bpa to 177.7 bpa. Soybeans from 51.9 bpa to 51.6 bpa.

IT IS HARVEST TIME!

The weather outlook for the next 6-10 days is promising with multiple days of warm sunshine to help finish drying this crop down. Rain is for forecasted for the early part of next week with following sunshine for the rest of the week. Harvest has gained serious speed over the last week in the US. The US corn crop is 25% done. Iowa 22%, Illinois 26%, and Minnesota 14% finished harvesting corn. Wisconsin corn harvest continues to ramp up with 8% being finished. Wisconsin is 16 days ahead of last years harvest and one day a head of the average! Corn saw a 3% bump in the G/E, moving it to 80%. Wisconsin farmers continue to wrap up corn silage with most of the state being done at 90% complete.

Soybean harvest is cruising along in the US with 38% completion. Iowa 55%, Illinois 25%, and Minnesota 61% finished. Wisconsin is 18% complete which is 11 days a head of last year and two days ahead of the average. Soybeans condition improved over the last week moving up 4% to 83% G/E. The improvement in Wisconsin’s G/E is exciting news and hopefully shows up in the yield as combines start rolling in the fields.

Wheat has shown some strong pull in the market. Dryer weather conditions in several countries along with lower US stocks have helped this market rally.

As harvest picks up do not set aside grain marketing! Start looking ahead to successfully market this 2020 crop!

Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.

  • Mon-Sat 7:30 AM – 7:30 PM    
  • Sun 10:00 Am – 6:00 PM

Below are the links to Landmark’s Discount Schedules.

Landmark’s Cash Bid Link

Stay safe and harvest on!

Grain Exchange – 9/29/2020

 

Grain exchange update with Judy Uhlenhake

Harvest pressure leads to weak grain markets today. Corn harvest is at 15%, Soybean harvest at 20% and winter wheat seeding is 35% complete.

Corn prices are lower this morning on harvest pace. Quarterly stocks report is out tomorrow. Only 75% of corn across the country is mature which is 10% ahead of the five-year average. There is still a large amount of late planted acreage that needs more dry down time. Corn exports continue to stay strong; 2020/21 corn exports are 79% higher that the same time a year ago.

Soybean harvest has started at all our locations. So far, a good start to the harvest season as beans are coming across the scale with good moistures. The dry late summer is supporting a fast harvest pace. As of Sunday, 20% of U.S. soybeans had been harvested which is 5% higher than the five-year average. Exports remain strong as China continues to buy. Loading paces support the 2020/21 target as year to date shipments are 53.7% higher than last year.

Wheat prices are following corn and beans lower this morning. Dry weather is a concern, but farmers continue to plant in dry soil conditions. Current planting pace is 2% higher than the five-year average. Wheat exports remain 8% higher than a year ago.

Let us help bring your crop in. We offer trucking at all our locations.

The market has had some pretty good swings, offers are a good way to catch the prices as they moved higher. Reach out to your Grain Market Specialist, we are here to help with all your marketing needs.

Harvest time can be a very hectic time of year. Please take the time to stay safe.

Happy Harvest Season! Have a great day.

 

Grain Exchange – 9/22/2020

 

Harvest has begun in the Midwest! The weather has allowed for a window of opportunity for 2020 fall harvest to kick off. As a company, Landmark saw its first loads of new crop beans on Monday, Sept. 21. We have not heard any local reports of yield for Wisconsin. Reports in Iowa, Minnesota, and Illinois are saying they are seeing lower yields than expected in corn and soybeans. More information will be known by next week as harvest picks up.

Wisconsin corn crop conditions are reported as: 91% dented which is 4 weeks ahead of last year at this time. Forty-nine percent of corn has been reported as mature and is 9 days ahead of the average and 23 days ahead from last year. Much of the state continues to work on corn silage with 62% completion which is 11 days ahead of the average and 28 days ahead of last year. Corn G/E was down a point last week from 78% to 77%.

Wisconsin beans over the last week have become 90% colored 3 weeks ahead of last year and 8 days ahead of the average. Fifty-six percent of soybeans have dropped leaves which is 15 days ahead of last year and 5 days ahead of the average. Beans G/E was unchanged at 79%.

The soybean market has been drawing a lot of attention over the last week and a half with a major up trend in the later part of last week. Monday, Sept. 21, the market made a correction with a 20 cent decrease over the Monday trading period. There was some bounce back in the soybean and corn markets Monday night. Do not let the price change discourage marketing.

Harvest is gearing up and Landmark is ready to help! Feel free to give us a call for grain marketing, fertilizer, and LP & lubricant needs.

Stay Safe!

Grain Exchange – 9/15/2020

 

Grain exchange update with Melissa Schmidt

Crop conditions fall again, 60% good/excellent on corn and 63% good/excellent on soybeans. Wisconsin corn is still strong at 78% (same as last week). Soybeans conditions in Wisconsin dropped from last week to 79%. Wisconsin soybean dropping leaves is at 25% and nationwide is at 37%.

This morning’s sales came out at 9.68 million bushels of soybeans and 5.19 million bushels of corn. This is not helping the markets stay positive. Weather is helping finish the crop without any unseen issues. The markets are watching weather conditions in South America for planting and growing. Brazil has seen 54% of normal precipitation and Argentina is at 45% precipitation.

Ethanol margins are still in the black by 10-15 cents per gallon. New Orleans closed the flood gates for the UP rail and are rerouting to Memphis short term due to Hurricane Sally. Corn harvest is on target at 5% completed.

Winter wheat planting is active in the US and parts of Russia are seeing an increased acreage planted.

Make sure offers are working, we have seen offers hit better at night trading than day trading. We still have options available for this fall. Make sure to review your sales and offers prior to harvest.

Happy harvest and look forward to seeing everyone this fall!