If you’re reading this, you’ve survived. Congratulations! Businesses are opening back up. The economy needs money to exchange hands every single day. Thank goodness the barbershops and salons have started seeing customers. People’s attitudes have sure changed since the first of the month. We had a great spring planting window. It will eventually warm up and we hope the moisture keeps coming. Not all at once like several places around the state got yesterday. We received 2.8” of rain at the scale for the month of May. My backyard gauge in Iowa Falls totaled 6.8” with 4.2” since last Friday. We can only the hope the weather stays nice so people can side dress and spray. Corn basis is starting to relax in CR. The area ethanol plants are not too far out of the market. Ethanol demand and production is starting to rebound. More and more vehicles are on the roads. The export and feed demand are staying pretty strong. Bean basis is weaker. Bean crush has been good. Exports have been ok. We need to average 9.0 mln per week through August to meet the 1.675 bln bushel USDA projection for this marketing year. Macroeconomic news should also keep markets in check. With that being said, the funds are short which can change in a blink of an eye. Along with the new LP tank project, the board decided to replace fill conveyors to the two tanks north of the elevator. Stay safe! Bob |
