Been busy on the winter haul program.. Another Wheat Shuttle loaded over the weekend.. etc.  I found it interesting to see the basis pop in several locations yesterday..

( https://www.ams.usda.gov/mnreports/dc_gr112.txt )

I've got some thoughts on why the analysts miss so much on the stocks reports.. armchair guru's looking at charts and S/D's.. trendline yields.

Meanwhile out in the country we're picking up piles.. blending off grade stocks.. and searching for protein.  I caved and sold half my soybean inventory (2 loads) on the post report rally.. been awhile since I've been to ICT.. but quite a bit of construction going on down there now...

( https://iomsa.org/2016/02/04/cargill-to-upgrade-wichita-ks-processin... )

Kind of a fit and start on dumping but oh well.. will be nice when they get it completed.. they need to SPEED UP their unload as I've been going more to the other place.. a little longer but pays more.

We're just about to wind things down.. given the break in prices.. I've got some fieldwork scheduled now.. still waiting to see if some of this late emergent wheat will come up..???  before it blows out..???  It was almost 70 degrees here yesterday.. the topsoil is getting dry again..  Also stories of pretty low yielding irrigated corn fields to my immediate west.. like 120's for last fall..??

I can see the stocks report coming down on the next update...  seems like we are blowing through inventories pretty quickly..

Coop was picking up the last of the sorghum this week.. went pretty fast this year.

chow baby. 

edit add: sounds like the Chinese funds are out on holiday.. is now a good time to position for their return?  Buy some calls..?? 

Also Newsom is talking warm weather could coax winter wheat out of dormacy early setting us up for a cold snap to winter kill it..  "always something"  It's been awhile since the market has had to worry about that..  I believe we'll see a run over $5 for the wheaties.. the armchair guru's are looking at their basis charts but not realizing it's a QUALITY issue.. NOT Quantity..  What is being SAID about my area does not match what it IS... low pro feed wheat.. that's what we got.  High quality milling is TIGHT!!!