Last weeks USDA report continues to affect the grain markets. Today this the 6^th straight session both corn and beans have been lower. We’ve taken 50 and 62 cents off of the corn and beans since the report was released. The record production and yield numbers will be debated over the next few months. The USDA will resurvey producers in states with crops still in the field. The gov’t will up date the production number in their March report. So it’s like getting a mulligan in golf. They'll try harder next time to get a more accurate number. But in the mean time these are the numbers we have to live with. $3.60 March corn gives us support. If we can hold this level maybe we can bounce back and fill the gap between $3.85 and $3.925. Beans have traded through the $9.93 and look to continue lower. The South American bean growing season has not worried traders about a having a lack of bean supplies this year. We have been told the fund rebalancing has been completed. Feb/March corn basis has been improving. Soybean basis hasn’t done much and continues to be pretty wide for this time of year.

 

I received a call from Solae/Pioneer today about their Non GMO program for 2010. They have increased the grower premium from $1.25/bu to $1.75/bu. Producers who have all ready signed up will also receive the additional premium. Don’t wait to get signed up if you are interested. The program can close at anytime.

 

Every year I mention grain quality. We’ve seen some corn that was on the verge of becoming a really big problem. Check your bins. If you need help give me a call.

 

The price of waterway mix has come down this year. We sold over 3 tons last year and a lot of those waterways will have to be reworked this spring. This year’s price will be $1.40/lb. We’ll also have bagged and a few bulk oats for sale again this year. 

 

We do have a few chemicals that have been around since I’ve been here. I’d be willing to make you a pretty good deal on them if anybody is interested.

 

The state warehouse and grain dealer exam went well. Can’t wait for the next exam!

 

Drive safe and have a great weekend.