MN New crop corn/soy prices?

Dave from MN · Jul 16, 2014

What are you guys seeing for new crop offering in your area? About $3.44 corn here"today". Soybeans..peavery Red Rock about %10.50. Right now i think securing reasonable priced storage for 60-70% of my grain is key. Will have to see, never know till the combines start opening feilds this fall, that and it seems that an awful lot of guys are getting into feeders, and it will take alot of corn to do that, cant see everyone that feeds, but does not grow corn, is locking in their feed now. Any other opinions?

IaGary · Jul 16, 2014

We are in the $3.70 range here.

We have a good looking crop in Eastern Iowa overall. There are a few spots that have drowned out along Creek and River bottoms but the average yield could still be a record if we get some sun.

A lot of corn in western Iowa and Nebraska got hailed out. A lot of corn north didn"t get planted or is late.

I think the markets may get back to the $4.00 mark this fall but who knows.

Gary

casecollectorsc · Jul 16, 2014

E SD 30 miles south of Watertown, last Friday new crop corn...$2.91, Beans, not sure $10.60.

DeltaRed · Jul 16, 2014

I contracted 100 ton last week at 7.80 hundred wt.That is based on the Omaha market.Here(westernColorado),everything is based/sold on hundred wt,not bushels

rrlund · Jul 16, 2014

There are just a finite number of feeders though. If one person doesn't feed them,somebody else will. It'll take a certain amount of corn no matter who does it. I don't know that where it's done will even effect basis at all.

ss55 · Jul 16, 2014

Is barge traffic still limited on the upper Mississippi river?

paul · Jul 16, 2014

Barges fell out of favor up here a decade and a half ago.

Rail to the Pasific northwest or ethanol plants is where the corn action is any more from here. MN seems bent on getting rid of livestock, but that's another story for another day.

Paul

fixerupper · Jul 16, 2014

There are four counties in Northwest Iowa that look bad because of wet, sour soil; Buena Vista, Clay, Palo Alto, and Pocahontas. Lots of yellow sick corn and drowned out potholes and low lands. The rest of northwest Iowa looks great although some crop in the good looking areas was hailed pretty bad. This morning a market commentator claimed most of the corn belt looked very good with the usual small areas that aren't good. We'll find out in the January report, though that's a long time from now. Maybe I'm optimistic but I just can't see corn staying in the $3 range. The demand is still there. Jim

casecollectorsc · Jul 16, 2014

New crop beans...$9.95.

MN New crop corn/soy prices?

Dave from MN

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IaGary

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casecollectorsc

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DeltaRed

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rrlund

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ss55

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paul

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fixerupper

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casecollectorsc

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