Grain News – Harvest in Full Swing
Finally, some great weather to get harvest in full swing! Please make sure to sign up for our grain alerts. This will keep you up-to-date on hours or special events happening at your delivery location.
The grain market has been having a tough week. The stronger dollar and technical selling has the US out of the export market. Wheat and soybean meal were the big loser on Wednesday pulling corn down and soybean with them.
Corn has been steadier compared to all other grain markets. Ethanol production is up this week to 301 million gallons compared to last week at 297 million gallons. Currently that is 1.4% lower than last year at this same time. Negative ethanol margins are keeping production low and we most likely will not see the normal ramp up in October thru December.
China’s soybean imports from Brazil are up 20% and nearing nothing from the US. According to the Wall Street Journal this morning, US is refusing to resume trade negotiations with China until China comes up with a proposal to address the US concerns about forced technology transfers, along with other issues. The G-20 Summit is next month, Trump and the Chinese President are still set to meet during this time.
Landmark Services Cooperative offers a variety of marketing options for you grain. You should be contracting corn for fall 2019 and spring 2020. The price builder bonus contract is offering 4.37 board for delivery in Fall 2020. This is a great way to start putting layers out there. Always remember to put offers in for now and the future. Just a final thought, you will be planting your fall ‘19 crop in less than six months!
Be safe and enjoy the great weather!