Tuesday, October 13, 2015

Our crops have improved, but from poor to fair.

Grain prices drop even lower, but Aug. 12 crop production report will help tell us where we're at.
Grain markets on a rollercoaster

Grain producers everywhere are saying, ‘Please, Lord, give me another rally; I will know what to do this time!’

It is hard to be a poor-producing state in a good year.

Even as producers are digging in their marketing heels, the market is actually giving back some of the gains we have seen over the last month and a half.

The rainy weather that has plagued farmers since the middle of May took a breather the last few days. Three or four days of sunshine and warm — but not hot — weather has perked up some corn and soybean fields.

Ohio’s corn condition declined 19 percent for the second week in a row. Our fearless grain commentator, Marlin Clark, can't remember ever seeing that before.

Heavy rains are having an impact on the grain markets.

Now is a time for hoping, and for looking at grain marketing option strategies. We can’t afford these corn and soybean prices long-term, and we have been too good at production for good prices.

USDA's June 8 Planting Progress report says soybean planting still lags history. This has some traders saying that all the bean acres will never be planted.