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May 31st 2017  05/31/17 10:31:04 AM

We’ve received enough moisture to get this crop germinated.  Now we need some warm temps.  We have to remember every spring is different.  This year has just been a little cooler and wetter than what we’ve had the past several years.  Most of the fields are turning green.  Hopefully it’s not weeds I’m seeing. 
Most of the corn is now planted and is up in our area.  Some male corn still needs to get planted.  Soybean planting started again around here on Monday and should finish up before the rain starts again Thursday night.  Even though some of the corn and beans laid in the ground longer than what we had hoped, the emergence looks pretty uniform (from the road).  Sprayers are and will continue to get stuff covered.  Hope the wind and rains will cooperative the remaining of the growing season. 
Corn has been in the same trading range for the past 6 months.  Nearby basis figures are the best.  Have not seen much give up selling.  We’ve all seen these prices before.  The wet corn has been moved out of the farmer bins?  Will we see a weather rally in the next 45 days?  The first crop rating of the season did give us a bounce overnight.  The eastern corn belt is really behind compared to their 5 yr average.  The funds are really short this market.  They could easily buy their way out of their positions and give us a rally.  Old crop basis could get ugly if this does happen.  Will we see SA corn show up at the east coast later this summer or early fall?
Soybean basis has been steady.  Funds have sold this market over the last two weeks taking roughly 70 cents.  A big SA crop and a pretty good old crop carryout is not giving us much to cheer about.  It will be interesting to see how many bean acres do get planted this year.
The new metal sheets were delivered last week.  A Spahn and Rose crew has been hired to replace the hail damaged sheets on the new whse/shop, electrical room, and dump pit.  I hope we see them by the middle of the month.
We had our annual Iowa Department of Agriculture Grain Dealer/Whse examination the middle of the month.  We didn’t have any issues noted.  Cindy and Holly do a great job keeping us in compliance with the state. 
Summer starts in 21 days.  Days also get shorter in 22 days.  Next USDA report will be released on Friday June 9th
Have a great week!
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