Oct 24th 2013
Grain Marketing Specialist
The 5 day forecast appears to have given us a small harvest window. Due to difficult harvest conditions and our commitment to service our patrons, Wheat Growers has taken additional steps to receive high moisture soybeans. We have positioned ourselves to be able handle what we feel will be your needs particularly, but not limited to, our shuttle loading facilities. Currently we are targeting 17% but this number will evolve as we gather information from the producers. Communication will be the key. The sooner you can let us know what your needs are the sooner we will be able to work hard to find a solution. Please stay in contact with the Grain Origination staff or your local location as we will find a home for your high moisture soybeans. Thank you and have a safe and profitable harvest.
Corn: As of 7:45- 2 lower
Corn market rallied yesterday on spillover strength, an increase in ethanol production to 897, and continued ideas that we are becoming more competitive for export business. Export sales out this morning for the week of Oct 3rd at 1340.
Soybeans: As of 7:45- unchanged
Soybean rallying yesterday on harvest delays and news that Russia had purchased 120 of US beans. % day forecast looks to be a little more conducive to harvest with the 6-10 day showing above average moisture. Technically we ran right into the 38.2% retracement that mentioned yesterday before setting back. Export sales out this morning for the week of Oct 3rd at 929.8 for 13-14 and 18 for 14-15.
Wheat: As of 7:45- 2-3 lower
Weather concerns in Argentina and Australia along with a weaker dollar all led to firmness in the wheat complex yesterday. Export sales out this morning for the week of Oct 3rd at 653.6.
In an effort to help Ranchers that suffered tremendous loss of livestock during the October 4-7 blizzard and at the request of Wheat Growers customers that wanted to contribute a portion of their harvest to those that suffered livestock loss, Wheat Growers is supporting the South Dakota Ranchers Relief Fund by accepting grain donations that can be directed to this fund.
Those that would like to sell some of their grain and have the proceeds direct to this charity can do so at any Wheat Growers grain location. Simply tell the location how much grain you would like to donate and they will sell the grain and direct the proceeds to the Ranchers Relief Fund in your name. We know the Ranchers will greatly appreciate your support and donation.
For more information about the Ranchers Relief Fund visit www.giveblackhills.org/
The South Dakota Rancher Relief Fund was established on October 8, 2013 by Black Hills Area Community Foundation to provide support and relief assistance to those in the agriculture industry impacted by the blizzard of October 4-7, 2013. The fund will be administered by BHACF in cooperation with the South Dakota Stockgrowers Association, the South Dakota Cattlemen’s Association and the South Dakota Sheep Growers Association for the direct benefit of the livestock producers impacted by this devastating blizzard.