Mission Statement "To grow profitablility, retire shareholder equity, and provide sound employment opportunities while striving to keep the local communities strong."
GOOD AFTERNOON DECEMBER 09, 2013
Co-Ag Farm
Recently the markets have rallied to the upside. Mostly being fueled by weather and production set backs all over the world and possibly a tighter wheat carryout than originally thought. Nearly 60% of the corn crop is also still in the field and getting harder and harder to ge to. Many growers and exporters have started to lean towards the bullish side of things as well. This recent ralley has also pushed new crop prices to highs we haven't seen yet this year. I have booked some 2014 crop sales for harvest delivery, but I'm not getting overly agressive just yet. So far, with the basis being strong to the positive, cash sales are the safest bet. HTA type contract are doable, but starting off with a high positive basis is pretty risky and could cost some money when last call comes around.
Take a look at the Co-Ag Farms J.V. Link to find out more.
Wheat futures closed nearly unchanged from the open. Wheat will be all about the upcoming USDA report and the adjustments made to global production. Most seem to be thinking the adjustments higher in global production will offset any tightening in US ending stocks.
Pea & Lentil bids - 11/01/13 - The green pea market has rebounded somewhat. A high volume of grower selling in August pushed th market lower, but we have now purchased all green peas from the offer list at $17.00 and below. Yellow peas have been purchased at $12.00 from the offer list. USDA continues to request yellow peas and yellow split peas, however all sales have come from the Midwest at lower prices. There are still lentils to be sold from previous purchases before we are able to start buying again. The prices indicated below are an estimate of where prices will be when we start buying again. Very few if any lentils have been on USDA tenders, and when they have been included prices reflect grower bids well below $20.00.
