As I mentioned last time the weather and outside markets will influence price direction going forward. The wheat market has rallied this past week because of drought talk in Russia.  The overall effect won’t be known for some time. In the mean time, our corn and bean traders (fund buying) have decided to jump on the buying wagon and have brought our prices back up towards some resistance.  When they will be sellers is anyone’s guess. We continue to sell bushels overseas. Volatility will be with us for quite some time.  

Rain makes grain!! Parts of the Midwest have had too much. We can’t complain about our growing season. The heat and moisture have both came when we needed it. Corn pollination should be about finished. Any additional hot weather and moisture in our area will only mature our crop faster. The soybean crop will need rain in August to put additional bushels in our grain bins. 

Corn basis levels have not done much since last week’s break. The processor knows the old crop bushels need to be moved before fall. They will not bid up for bushels until it is necessary. It is interesting to note that a local ethanol company is basis only for corn starting in September. Soybean basis has back off in areas this week. One broker told me it may be a head fake and the processors are shaking the trees trying to see what falls. Bean basis could get interesting before harvest. Many traders believe we’ll see Delta beans being harvested late next month.        

The Tama County Fair started yesterday. If you have the time, please stop and support our local 4-H and FFA students.   

We will close our fiscal books next Friday July 30^th. Inventory will be held Monday August the 2^nd. Please wait until 9:00 AM to bring in any bushels. We’d like to get inventory finished before we start unloading any grain. Call me if you have any questions. 

I talked to a representative from Aspro about the schedule on our road repair. If we could get 3 or 4 days forecasted without any rain it sounded like they would start working on it. We’ll have to wait and see what Mother Nature has planned for us. They know harvest isn’t that far way. We may have to limit all in and out bound grain until they get the road repaired. I’ll try and give everyone enough notice so we can all work around Aspro’s men and equipment.  

Baseball and softball are about over and the boys are talking football. Can’t believe school starts in less than a month. Have a great weekend and attend a church service of your choice.