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Market!!!!!!
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boog
Posted 1/5/2007 09:29 (#83232 - in reply to #83124)
Subject: Re: Market!!!!!!



I talked to one of the grain merchandisers at the processor we haul to yesterday & he contributed the drop to 3 things.
1. warm weather resulting in lower demand for heating oil & the resulting $3 /barrell drop in oil prices
2. snow cover for the wheat in the west
3. profit taking by funds.

This outfit normally starts offering free DP in early Dec. This year they didn't offer any free DP on soybeans till mid Dec & none so far on corn. Normally they allow delivery of Jan corn in Dec whether they have free DP or not but this year didn't allow any Jan deliveries till Jan 2. We were getting 7 trucks a day running 2 trucks 1 driver, 1 guy loading, & could have gotten an 8th in if needed, this is about a 15 mile round trip. This is about as many as we ever have gotten in on one day. We were figuring we would be lucky to get 4 lods a day in. Yesterday it did slow down but due to one of their pits breaking down and rain set in just before noon shutting us down.. On Jan 3, going by scale ticket #s they unloaded approx 500 loads, probably 99% semis,

Overheard someone asking the local elevator manager if they were going to offer free DP & he said he didn't think so. I'm not a fan of DP as it takes the grain out of the farmers hands & in effect he is selling against himself if he's waiting for a price increase. Neverthe less we do use it some as, especially free DP this time of year, as it allows us to get bins unloaded before bad weather sits in & before "Frost Laws" are posted on the local roads.
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