Happy Thanksgiving! We at ALCIVIA are thankful for all our customers! Harvest is wrapping up with corn and beans both coming in at 95%. The fireworks continue in wheat while corn and beans keep a tight trading range. A reminder that markets take a break Thursday and Friday are only open 8:30 am to 12:05 pm. Make sure to have offers in and working, we have seen crazy trading in the past.
Soybean planting in Brazil is 86% planted, ahead of last year at 81%. Corn planting there is at 91%, same as last year. Ukraine’s corn production increased to a record 40.0 million metric tons from 37.1 with harvest only completed at 80%. Russia exports have dropped 23% over last year at this same time. Australia is seeing heavy rains and effecting the wheat quality there.
While you finish up fall field work and putting equipment away, don’t forget to figure your cost of production for next year. This next year you need to make offers and have a plan with all the volatility in the market. It is never too early to make a marketing plan for bin grain or next fall. Please reach out to Grain Marketing Specialist to set a meeting up very soon.
Happy Thanksgiving to you and your family!