BOB'S REVIEW
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May 26th  05/26/15 10:28:48 AM

I hope everyone had a great Memorial Day weekend.  We need to remember and thank our military members more than one time a year.
 
Rain makes grain.  We are getting plenty of it this morning.  Until today the rain we’ve received has been welcomed and came pretty gentle.  When it warms up later this summer we’ll take an inch a week.  The folks in some parts of Texas would like it to stop raining.
 
Corn and bean planting is pretty much done in our area.  US corn planting is expected to be close to 90% completed and soybean in the area of 60%.  The USDA does release the first crop rating report this afternoon.   June 10th will be the next crop production report.  Crop ratings will go hand in hand with our summer weather.
 
Corn and bean basis is the strongest over the next two weeks.  We have seen it slip some since the planters have stopped rolling.  Both basis levels will get wider going forward.  The only way it doesn’t get wider is if we have a weather issue or a geo-political issue down the road.  The local ethanol plants have started to back down there bids.  I’d look for the future markets to continue to inch lower.
 
Webb Concrete started working on the receiving pit last week.  They dug the hole on Monday and poured the footing on Friday.  They have part of the pit and leg walls up.  They worked over the holiday weekend.   Some of the equipment has also arrived and has been put together.  Hopefully the weather will be nice the balance of the summer so we can get everything done in a timely manner. 
 
Have a great week!
 
Bob  
 
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