Grain Exchange – 2-16-2021
Seemingly the easiest topic to resort to is the weather. It is a topic that cannot be avoided in the last month. The cold, wind, and snow… Wisconsin’s blessings. The weather has surely slowed any outdoor work and grain movement. The coming weeks seem to be promising to allow for February grain movement to pick back up as we finish out the month. Landmark Logistics offers the ability for grain movement in all conditions allowing for producers to keep equipment parked and clean from the Wisconsin roads! The potential to pick up off the farm in all seasons is another opportunity to keep grain moving in great market conditions and may allow for more volume to be sold then one can haul.
The corn market has been very dynamic as of late. One thing remains the same that is the chance to sell at least $5.00 cash corn for the next 5 months. The market does start to move lower the closer we get to harvest, but the opportunity today is there. We are almost a month away from when we watched the commodity market bottom out and people would have been excited to sell $3.50 cash corn. This market is a chance to add to your bottom line and price old and new crop grain above break even for many producers. Setting up a marketing plan to successful meet these goals and understand these numbers is the first step in grain marketing.
The nearby soybean market is continuing to hold its position. Many beans moved at harvest meaning there are few left to sell to the elevator. That same statement goes for the elevator as well. This market wanted the volumes moved and delivered as fast as possible. It is now time to be turning focus to new crop beans if producers have not already. The November 2021 bean market slammed down at the end of January and has been slowly creeping back up in February allowing for these price targets to get hit again. So, if one missed out on the first round, I would encourage offers! That way you can be a part of the second happening.
In summary, the markets are allowing for the farmer to make good business decisions to improve their financial well-being. The market is continuing to tell us to move bushels now and not later for all parts of the grain industry. The struggle is having the freight and logistics to do so. Maximizing resources to meet the goals and demand of the marketplace is essential and at Landmark we want to help all our customers achieve success in their marketing and grain execution.
P.S. In case you missed the Grain Producer Meeting on January 19, please click the image below to watch the full recording.