June 26, 2015
Producer Marketing Manager
Too much rain in places has the grain markets significantly higher this morning......Give us a call to help you protect some of these gains!!
CORN: As of 7:45 – UP 11
Radar returns this morning are showing showers across most of Northern IA as well as through Missouri stretching into Southern Illinois. Dec corn is trading above the 200 moving average this morning and above the $4.00 mark for the first time since mid-April.
SOYBEANS: As of 7:45 – Up 20
The rains are hitting already saturated areas that still have many beans to plant. With the amount of rain across the central and southern cornbelt, there has been a fair amount of comparison to the flood year of 1993. The chart below shows the comparison of Nov bean futures this year vs 1993’s price action. It is eerily similar as the rally (excess rain) started on June 15th for both years. As of this morning we have put on $1.00 of premium……in 1993 we rallied $1.81 into the middle of July, before slowly selling off into harvest. Give any of our Grain Marketing Specialists to discuss options on how to protect that $1.00 rally.
WHEAT: As of 7:45 – Up 21
Harvest had been making good progress through Kansas with better than expected yields being balanced against all the quality question marks. Scattered showers yesterday looked to slow some activity. A few more reports of vomitoxin showing up in Kansas with more of the problem expected in Nebraska. Many concerns about quality across the SRW areas as well…..