We’ve had just over 4 inches of rain since the first of June. We have been fortunate it hasn’t came all at once. We can remember the 3 and 4 inch rains we received in May and early June last year. Areas of southern Iowa and Missouri have had excessive rain fall this year. Many areas are still trying to plant beans and get both their corn and bean acres sprayed. Even Ohio had 12 % of their bean acres to plant as of Sunday night. We do need several dry days in a row to get our beans sprayed and hay baled. The heat and moisture have really helped the crops mature this past week. Corn is waist high and may even start tasseling around the 4^th of July. 

 

Last weeks crop report showed an overall reduction in corn stocks for this and next year vs the gov’t guess last month. The big reason was the amount of corn that will be used for ethanol. Several new plants are suppose to come on line by the end of the year. The new ADM ethanol plant in Cedar Rapids started grinding corn earlier this week. According to company personnel the plant should be running at or near capacity by the first of October. The plant will be able to dump an additional with three new corn dumps. All probing and grading will be done at the current staging area. The word on the street is that the corn processors in Cedar will grind somewhere in the neighborhood of a million bushels a day. USDA will release their planted acreage and grain stocks report on June the 30th. I would expect an increase in corn and bean acres. They can always adjust these numbers on future reports if they feel like they need too. 

 

The grain markets have bounced off their pre-report lows. Once again we are near the top of some trading ranges. Traders have put some weather premium back in the markets. The delay in planting our remaining bean acres, excessive moisture in parts of Canada, and dryness in the major corn growing region in China have given us a nice bounce this past week. Oats are up over 40 cents. Basis numbers haven’t changed much over the past few weeks. Both the bean and corn processors seem to be buying enough bushels to keep their plants running. Historically around the 4^th of July and during corn pollination the markets put in their highs for the year. It’s about money and technically trading these days. Gold, crude, and the value of the dollar will also keep the markets moving.

 

Since the 4^th of July falls on a Sunday this year, we plan on being closed Monday the 5^th.            

 

We will have our customer appreciation picnic on Saturday night the 10^th of July. More information will following over the next week or so. 

 

Our fiscal year ends July the 31^st. Please have all accounts brought up to date before our year ends. Inventory will be held on Monday August the 2^nd with the actual audit being performed starting the 18^th. According to our monthly financial records we are having another good year. Drying income was large this year. 

 

I have visited with the county engineer and have been told that Aspro has been contacted about fixing the street in town. I was not told a timeline for the project. I will keep you posted.

 

Gone Fishing will be posted on my office door next week. If you have any questions Cindy or Holly will be here to answer them. 

 

Fathers have a great day on Sunday! Have a great week and attend the church service of your choice.

 

Bob