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JONSCKS
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JonSCKs
Posted 9/23/2016 08:22 (#5544323 - in reply to #5544131)
Subject: Cash market update.


20% eh?

I stuck mine in the bin.. and will probably need what room I have left.  Best options would probably be a feedlot unless you can store it yourself and dry it/hold it for better basis appreciation later... that might open up other options..??

Producers in my area still need MORE on farm storage.. moi included... pretty obvious this year.  Baggers etc.. local elevator is dumping corn in a bunker.. slowing things down but it is what it is..

Early bean pushes are easing as harvest expands east.. but more wet weather on the way.. so.. we may see more pushes...??  Terminals are surprisingly hungry for dry corn.. Hutchinson is as strong as we are.. with shuttle loaders moving bushels.. even to export locations in Mexico..  which is going to be more bushels than I ever recall seeing/hearing about...  I guess a wide basis is good for something..??  Anywho shuttle loaders are basically running at capacity moving.. whatever they can.. including corn.  Feedlots have not been in a hurry to cover needs.. but will want to fill before the end of harvest..  which we are making good orderly progress on.

A Fair amount of reports of wheat still being fed out west.. it's certainly priced low enough to encourage.  We are seeing some slow basis improvement but expect more to come especially for non damaged higher pro.. quality.  We're actually a bit dry here.. too early/dry for us to start sowing.. maybe we get some moisture this weekend which personally I would welcome.  I do not expect as much double cropping due to economics.. but may see/do some..??  I expect wheat acres to be down pretty substantially again this year.. so the next short yield crop could pop things.. "someday."

Sugar cane aphids continue to be a vexing problem.. lots of horror stories from last year to my south.. expect those to migrate north this year..  "ugh."  Corn quality and yields are mostly good.. more variable than last year but some fields approaching last year's results.  Test weights appear to be lower than last year's high quality crop.. as noted more disease pressure.. as a whole.. mixed results fighting it.. just more moisture.. "sauna like" conditions this summer that flaired it... favoring some of the "Eastern"/more disease tolerant ype hybrids in some test plots vs.. "western" higher yielders.. but "depends."  Not universal but more reports of the sand out yielding the better dirt..?!?  "Don't see that everyday.." so fwiw..

.. just certainly more pressure then we've seen in recent years... but still some good results.. just not as widespread good as 2015...  a more challenging year.. but not a disaster..  finding homes are the issues.. but been here done that before also.. working through it.

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