Watching the dryer tonight so I have some time to write a review. Rain totals at the scale since the 1st of April until September 1st = 9.75”. Average rain total should be closer to 18”. Planters rolled early. Pollination temps were great. Missed some of those 8” of rain in July and August. There are areas around here that did receive some timely rain. Not a lot but a tenth here or there seems to be making a big difference on yields. Soybean yields have ranged from the mid 40’s to near 90. The oil content in this bean crop is pretty high. Overall average will be around 60 bu/ac. Corn yields are also all over the board. Anywhere from 100 to 260 bu/ac. I’m hoping for an average around 210 bu/ac. Corn and bean yields seem to be higher west of Buckingham. Less as you go east. Seed genetics continue to get better but we still need water. The main receiving leg gear box went out a week ago. Had to get one from a warehouse in Chicago. Bart Bros were able to get it installed by noon on Thursday. We found out this morning an internal seal was leaking. Bart Bros had one and got it installed just after lunch today. Hopefully that’s the end our breakdown’s. The board of directors voted last December to purchase a new platform scale at the office. The scale deck is starting to break and crack. It’s also harder to find replacement parts. Construction is planned for March and depending on the weather it may take 30 days to complete. The new scale will be 14’ wide and 80’ long, with a message board and outside ticket printing. Last week’s USDA report has our corn carryout projected to be over 2.1 bln bushels and the soybean carryout 220 mln bushels. Both figures came in under the average trade guesses. The 91 mln bushel reduction from the Sept 1 stocks report, lower exports and feed/residual helped cushion the reduction in production. Bean exports were lowered to help offset the lower production and keep the pipeline at its minimum. I expect corn and bean basis to be supportive. Overnight Nov bean traded above $13.00. Maybe Dec corn can find additional buying at $5.00. Geo-political news and election years are hard to trade. SA weather and planting progress will also play a factor. But it really only comes down to the big boys making the market move. Up and down. It’s about making money! Continue to be safe this fall. Take breaks and get some sleep. Bob |
