Join the Midwest Farm Report program called ALCIVIA Co-op Talk with Pam Jahnke and Bob Bosold. This episode of Co-op Talk discusses fall fertilizer updates from the VP of Agronomy, Nick Christen.
Waiting on the grain cart or truck driver? Sounds like an opportunity to think about 2022 grain! Harvest is in full swing, and many want to put the blinders on and fill contracts, bins, and do tillage before the rain, snow, and frost. Those are the operational decisions that help lead to the business’s success, but what type of business decisions are being missed by choosing that over looking at markets?
The hot topic is fertilizer. There is no question that the fertilizer market continues to bring a firm presence, but does the grain market bring the same feeling? The December 2022 Chicago futures board traded at $5.40 at its highest point today. ALCIVIA offers a variety of tools in its marketing toolbox to secure a value that fits your operation.
There is a lot of grain still in the field yet, but have you asked yourself the following questions?
Am I continuing to successfully market my 2021 crop? Placing it in storage? Do I have targets in mind for what I need or want out of my crop? If I do, have I placed an offer or made that sale?
Keep rollin’! Happy Harvest.
Dylan
Join the Midwest Farm Report new program called ALCIVIA Co-op Talk with Pam Jahnke and Bob Bosold. This episode of Co-op Talk discusses a harvest update from the VP of Grain, Lacey Seibert.
What an awesome week for harvest! Markets continue to be a bit stronger. Make sure to check on your contract status through the customer portal. Are your contracts full and you need to be selling or putting offers in?
With corn harvest under way, the market continues to push stronger. Harvest is moving quickly with 52% nationwide done. The 5-year average at this time is about 41% harvested. Are you watching next fall corn prices? We have plenty of options at ALCIVIA to help you be profitable.
Soybean harvest nationwide is 60% done and with great weather this week will keep the US above the 5-year average. The leader in bean harvest is MN this last week with 91% completed. It is interesting that beans inch higher with talk of Chinese demand growing and exports improving from past weeks. Beans are getting support from vegetable oils globally. An interesting note is the November 2022 board is almost the same as November 2021. Make sure to be thinking of forward sales.
Wheat continues to be strong as planting and emergence is on pace for the 5-year average. With wheat over $6.50 per bushel on next July cash, are you putting some sales on?
ALCIVIA has plenty of options to help you be profitable. Don’t forgot to keep selling even when you are harvesting and busy with fieldwork. Please have a safe harvest!
Melisa
Yet another market moving WADSE report was released yesterday. The beans had the most drastic changes. Yield went up from 50.6 bushels per acre to 51.5 bushels per acre for the national average. This was a highly expected yield increase, especially as Wisconsinites are flying through harvest. Most farmers I am talking to have said their bean yields have been better than expected. The surprising section of the report was the ending stocks. The stocks went from 185 to 320 million bushels. After seeing the 135-million-bushel change, the market, which was already sliding, had a huge drop. From last Friday we have seen the bean price drop over 60 cents. Corn also had some changes, however not as extreme as the beans. Yield moved 0.20 bushel, putting the national average at 176.5, which slightly raised the ending stocks to 1.5 billion bushels. Corn has moved below the $5.00 mark in all of our ALCIVIA locations. On the positive side, wheat production and ending stocks are still lower than the previous September report. With where the wheat price is and most of the beans coming off earlier than normal, I foresee many Wisconsin farmers planting wheat this year. I have already seen wheat sown in places where I know there hasn’t been wheat in 10+ years! With that being said, it is also a great time to start looking at forward contract 2022 wheat.
Although the WADSE report was a bit of a disappointment, I just want to remind you of the exciting harvest we are having! The U.S. farmers are getting the crop off rapidly this year. Crop progress report released that the nation is 41% completed with harvest on corn, 10% ahead of the national average. Bean harvest is also ahead of the 5-year national average at 49% completed. Now if the rain and humidity would subside, we could finish the bean harvest.
As you try to navigate through all the reports this week, remember to focus on your farm and what brings profit to your operation. Is almost $5 corn still making money? Do $11.00 beans give you enough to buy fall fertilizer? Please reach out to your Grain Marketing Specialist if there is anything we can do to help ensure you are capitalizing on the opportunity the market is still providing.
Have a great day!
Kasey Baker
This week From the Field, Patrick Canales discusses fall burn-down and leveraging the market by cleaning up your fields in the fall. Travis Hofslien gives tips about minimizing harvest losses and maximizing your profits during harvest.
As always, make sure to contact your local agronomist with any questions you may have. Stay safe!
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