Friday
Dec042015

Grain News - December 2015

Hello,

I am Jory Bossuyt, the new Grain Merchandiser here at EET. I started here in early November, and I’m excited to be here. I’m from Cottonwood, but currently live in Clarkfield after previously working as a Grain Originator for Prairie Grain Partners. I have a Bachelor’s Degree from South Dakota State University where I majored in Ag Business and minored in Ag Marketing. I spend my time ice fishing, snowmobiling, playing hockey, boating, and golfing, depending on the season. If I haven’t already, I am looking forward to meeting you to see what I can do for your operation. Feel free to get in touch with me with any questions or concerns.

Corn

The November 10th USDA Report saw higher nationwide yields and global stocks. The USDA raised corn yield by 1.3 bpa for a crop of 13.7 billion bushels. U.S. corn usage was also lowered. Those two factors raised U.S. ending stocks by 199 million bushels to 1.76 billion bushels, a comfortable level. China’s corn supply was another major factor, with the USDA increasing their stocks significantly. At this point we watch demand, which hasn’t been too exciting with the high value of the U.S. dollar.

Soybeans

On the bean side, yield was raised by 1.1 bpa for a record crop of 3.98 billion bushels. Ending stocks are raised by 40 million bushels to 465 million bushels, or the highest since 2006/2007. With the large U.S. soybean crop we now look to South America’s weather which, at the time of me writing this, is looking like they could use some rain on the exterior parts of the country, but the central region is sitting pretty well off. To kick off a large rally, we need a production hiccup from down there in the months ahead along with some Chinese economic strength.

Basis

End users are having trouble buying enough corn and soybeans at these prices to cover their needs, leading to basis narrowing up the past few weeks. If they start to feel their needs being covered, they will back off in a hurry due to the large stocks out there (especially with the great yields in our area). Keep a close eye on this in the weeks ahead.

Lastly, keep a close eye on your bins and get them cored to keep condition down the road. Price later is 3 cents/month if you are not a seller quite yet.

Merry Christmas and Happy New Year from myself and everyone here at Equity Elevator & Trading Co!

Jory Bossuyt
Grain Merchandiser

Tuesday
Jun302015

USDA Update - June 30, 2015

Thursday
Jun182015

Grain News - June 2015

Equity Elevator patrons,

Well, the planting season should be all done by this point, so now it’s getting time to start selling your grain. Most of you are aware of our remodeling project at the elevator and that we are very limited on space to dump grain all summer. I am working very hard with everyone looking to sell their grain throughout this summer by doing direct ships to a few different end-users around us. This does include picking your grain up right off the farm any time this summer. I hope that you give me the chance to market your grain to make this as easy as we possibly can. We have already done a few hundred thousand bushels this way in the past month or so and it has gone very well. Give me a call so we can make this a successful marketing summer and get you the best price we can for your grain. We appreciate your business at Equity Elevator & Trading Co.

Thank you and have a great summer!

Travis Magoon
Grain Merchandiser