Corn: steady to 1 higher
Beans: 3 – 4 higher
Grains slightly higher this morning after a stronger trade yesterday, especially for soybeans. Rumors of China showing interest in purchasing US beans sparked traders. However, with no government reports to confirm any purchases, we remain in the dark as to what really happened. US trade reps still set to meet counterparts in Beijing. Brazilian weather also a factor in yesterday’s bean trade as they see hot, dry conditions thought to effect early-season plantings. The corn market quietly followed along and ended up falling off towards the close.
Until we get some resolution from the government, the trade is expected to be relatively quiet. We need those confirmed USDA reports (export, etc) to really know what’s going on….
On another note, a lot of farmers that we talk to have expressed a need for more assistance marketing their grain. Many feel that they do a really good job of maximizing yields, but aren’t very good at marketing grain. Because of this, we have several new marketing alternatives that have become available to our growers in the past couple of years to complement some of the more traditional alternatives we’ve offered for a long time. If you are in a similar situation, here is a look at our 2019 New Crop Opportunity Plans. There are 2 separate and distinct alternatives:
The Landus Cooperative Managed Marketing Contract is NEW this year.
- Landus Cooperative Merchandisers will price your bushels and give you regular updates on their progress.
- The pricing period runs from January 14th through September 20th. This is available for CORN only; increments of 5,000 bushels.
- At the end, you will have a futures-only contract and will need to set your basis to establish the cash price.
- There is a 6 cent per bushel fee for this contract.
- Ask your GMA about a lower introductory fee for this year.
- The sign-up deadline of January 10th is fast approaching.
The Averaging Contract sells a portion of the total committed every day during the pricing period.
- For corn, that is from March 11th through June 28th; Last year’s average was a little over $4 December futures (after fees). 5,000-bushel minimum and increments.
- For soybeans, it’s April 29th through August 2nd; Last year’s average was $9.45 November futures (after fees). 2,500-bushel minimum and increments.
- This has been a consistently good program through the years, as it is designed to price during the traditionally high portion of December corn or November soybean futures.
- There is a 4 cent per bushel fee for corn or beans in the Averaging Contract.
- Sign Up Deadline is March 1, 2019.
We encourage you to give one, or both, of these a try this year. Please contact your local GMA for more details.
Have a good day!