What the CBOT takes away the gov’t gives back. The June 30^th planting and stocks number was a huge surprise. Not many traders had the corn planting number pegged or the large draw on 3^rd quarter corn stocks.  Last Friday’s stock report showed no changes in projected carryout for the 2010/2011 corn or bean crop from the guesses from the 30^th report.  The $.50 cent rise in the price of corn and beans has been welcomed. Producers should be looking at making some additional sales of old and new crop bushels. Technically the December corn futures are up against some strong resistance near $4.00/bu. November soybeans are also close to the $9.65 mark. Weather will be the main focus going forward. Several forecasters have predicted some hot and dry weather coming our way the middle of next week. Our area could use some warm and dry days. Corn pollination should be over by then. We continue to sell corn and beans overseas. These sales have helped support prices over the past week as well. Corn crop conditions improved 2 % while the bean condition drops 1 % vs last week. Trade was expecting the numbers to be unchanged. Corn basis has widened out with the rise in corn prices. Bean bids are now vs the November.  Seasonal price direction around this time of year has been lower.  Outside markets will also influence our commodity prices.

 

We had a nice turn out at our picnic last Friday night. We had approximately 130 individuals at the Memorial Building. I would like to thank everyone who helped make the evening a huge success!

 

The Tama County Fair starts next Wednesday July 21^st. 

 

Our fiscal year ends July 31, 2010. Please have all accounts paid up to date. Thank you!

 

No new update on the time schedule for getting the road fixed.

 

Bob