BOB'S REVIEW
Oct 5, 2017
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2/24/17
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June 17, 2016  06/17/16 4:53:35 PM

The crops need the warm weather we’ve been receiving.  The corn crop has grown a couple of feet in the last two weeks.  Don’t need any wind.  We’ll take every rain we can get going forward.  An inch a week would be nice.
 
Weather (Fund money) has also been the main driver of our markets for the last couple of months.  Every growing season has areas that receive too much, not enough, and just the right amount of rain.  This year is no exception.  Weather during pollination will and always has been the key to good corn yields.  Just like late summer rains are needed to finish off the bean crop.  Only one person knows how things will turn out.  And it’s not me!  We still have a lot of old crop bushels that will need to find a home before harvest gets here.  Basis will be defensive until we know the size of this years crop.  2017 summer corn futures are near the levels we had at the end of June 2015.  Sunday night’s weather forecast will gets us started off with a bang.  It could be another wild week in the grain pits.
 
Progress is being made on the new wet tank.  The stem wall is poured and the floor should be done early next week.  Installing the floor aeration shouldn’t take too long.  The bin jacking could start before the end of the month.  Weather will be the determining factor on how things progress.  The whse/shop cement work is completed.  The builders probably won’t get here until after the 4th of July.       
 
The Iowa Department of Agriculture sent in their grain warehouse examiners on Monday morning.  It’s our annual review of our inventory and grain records.  Our grain quantity and quality were good.  Cindy and Holly do and did a good job keeping the records the bureau requires us to maintain.  Everything went well and we passed with flying colors.  Thank you ladies!
 
Yearend inventory will be Monday morning August 1st.  The auditors will be here two weeks later to put together this year’s financial statements.
 
We will have our annual picnic in July.  More information will be available in the next couple of weeks.
 
Have a great weekend.  Stay safe.
 
Bob
 
 
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