Quarterly Stocks (Friday 9-30)
Corn 1,377 Trade est 1,497
Beans 274 247
Wheat 1,776 1,795
US Production 2022-2023
All Wheat 1,650 1.795
Watch this week
Currencies / US Dollar
Arg. dryness possible less Corn and Wheat acres / more beans then
Harvest and yield reports
IMHO sell off combine beans and store corn.
BUT if your booking fertilizer sell corn to pay for it.
You can always re own if need be.
Prices the first week of Oct last yr (2021)
Crude Oil 7587 US Dollar 7587
Corn 541.50 Beans 1246.50
Cattle 125.20 Hogs 85.17
Dec. Corn and March Corn triple tops
Nov beans close to closing gap 1358.25-1349.25
Remember we have the most expensive priced Corn in the World
Thanks much bcb!
That covers most of the key factors for grains for us to be watching.
I'll add to that awesome list, the US drought and Winter wheat crop.
I was asked if I planned on planting some winter wheat, this fall
My answer: NO
We don't have the soils that produce top yields of winter wheat plus winter kill is always a danger to whole field avg yields
Even with wheat prices such as they are I can net more/acre growing corn on our soils, with contract corn prices for 2023 summer delivery from our bins an attractive proposition
Having said all this I expect my area of SW Ontario will increase winter plantings of wheat, just not on our farms
We are too busy chasing away the folks that want to erect wind towers on our land
Seems if they can be believed theey have leased enough land to make a wind tower system, as good as done in our area
All that all that remains to be done is to complete the required gov't project approval, which they seem to be confident will happen
At least they are spending huge amounts to lease land for 5 yrs with money up front
That is a large amount with 1000's of acres leased and paid up front They don't know we have a map of the lands they wish to lease, and by golly we have a lot of acres right smack dab in the middle of what they wish to lease
Got a phone call today asking what my price might be
Seems like money is not a limiting factor, must grow on trees for these folks
A link to Miss river barge traffic report. Low water groundings.
This is a huge deal that I was not following!
The drought is being caused by the cool water anomalies in the tropical Pacific, the La Nina which has caused the 8 year global warming pause. The best thing to bust it would be global warming resuming with a planet warming El Nino!
These maps sometimes take a day to catch up to incorporate the latest data(the bottom map is only updated once a week).
October 4, 2022 Below
AUGUST 16, 2022 BELOW
Drought is worse in the WCB compared to 3 weeks earlier
July 26, 2022-update
U.S. Drought Monitor
The drought monitor can sometimes be a lagging indicator, but the trend is backed up here by the monthly precip anomalies. That same problem area mentioned above has gotten well below normal rainfall this month. In fact, almost none of the Corn Belt has been distinctly wet.
Drought monitor previous years:
7 Day Total precipitation below: