Grain Exchange 3-10-20
Weather outside has us thinking SPRING! It’s a great feeling to see the sun and have the snow starting to dwindle away. To top if off Pike County Illinois has posted to Twitter the start of bean planting. Are you getting ready??
Corn is up 4 after quite the dive yesterday. Wall Street appears to be stronger despite the Coronavirus scares across the world. The WADSE report was released with no change in predicted planting or harvested acres. There was also no change in beginning/ending stocks for corn from February to March. The report suggested the average price will go down 5 more cents from February to March for harvest delivery corn.
Beans are up 7-9, also recovering from yesterdays losses. Brazil is about 50% complete with their harvest and the vessels are lining up to export the beans. WADSE also reported for soybeans no change in planted or harvested acres from February to March. There was again no change in the beginning/ending stocks. Like corn the soybeans price average price did go down 5 cents as well.
Wheat is down 1-4 cents. Reports of down production in Texas. Chatter about China purchasing wheat but the place of origin is still unknown. There was also no change the WADSE Report for the wheat from February to March.
Have you talked to your originator since the winter meeting? Now is a great time to get your marketing plan and offers for new crop in place. Your originator has a few tools in the shed to help your farming operation in 2020. If you have written check for your grain inputs, you should be thinking about a sale of grain to cover those costs.
Enjoy the sun & stay safe