Grain
Ag Plus meets producers' grain marketing needs by providing access to end user markets, competitive bids and pricing programs. Our experienced team provides competitive prices, transportation needs, drying and storage service, and we take pride in unloading grain quickly during the high-volume harvest season so your operation doesn't experience bottlenecks. If you have any questions feel free to contact Dave or Laura for your grain marketing needs.
Wanting to learn how to manage Vomitoxin??
Click on the link below to find the video!
Corn School Managing Vomitoxin
Tuesday, October 8th, 2019
Ag Plus has established DP and Storage rates for corn and soybeans delivered to their facilities. Any grain delivered to terminals or processors will be subject to different rates than Ag Plus offers at their facilities. Please contact us if you have any questions on the rates.
Today was report day, the recent pattern of volatility after a report continued today. Early the markets were lower on the open, traded higher and then the report was released. The corn yield was put at 168.4 bushels per acre, up .2 from last month. The corn acres were dropped from 90 to 89.9 million with harvested acres lowered 200,000 to 81.8 million. Total production was lowered 13.779 billion bushels, down 20 million. Overall neutral numbers. The usage numbers were lowered 150 million bushels on exports, food, seed, and industrial use was lowered 65 million, and ethanol was lowered 50 million. On a positive note, feed use of corn was increased 125 million. Net effect was we lowered the beginning stocks 331 million from last year, lowered production 20 million, and lowered total use by 90 million. Ending stocks were put at 1.929 billion bushels, down 261 million from last month. But traders were expecting more and grain sold off breaking support at $3.92-3/4 and driving the markets lower. Funds were big sellers when support levels were broken. Beans saw acres planted lowered 200,000, harvested acres lowered 300,000, and yield was dropped 1 bushel to 46.9 bushels per acre. The beginning stocks were lowered 92 million off the September 30th stocks, production down 83 million bushels, and crush was increased 5 million for a net drop of 180 million bushels, leaving stocks at 460 million. This is well below last year at 913, near the previous year of 438 million. Beans traded quickly higher but the pressure from corn and wheat trading lower pulled beans down to close near unchanged after trading up 10 cents right after the report. Wheat acres were dropped 400,000 on planted acres, 300,000 on harvested acres and yield was left unchanged at 51.6 bushels per acre. Production was lowered 18 million on the lower acres, imports were dropped 15 million, feed usage was dropped 30 million and exports were lowered 25 million for a net increase in wheat stocks of 29 million to 1.043 billion bushels. No major changes in the world numbers. The market volume remains light and when we broke the support on corn, sellers just overpowered the market lower. Early in the day, USDA announced another sale of soybeans to China of 398,000 metric tonnes. Weekly export sales were released with corn at a disappointing 11.2 million bushels, down from 22.1 last week and 15.1 million last year. The expected range was 20 to 31 and we need to sell 35.1 millon per week to reach USDA projections. Soybean exports were strong with 76.9 millio bushels sold last week (China), compared to 76.3 million the previous week but only 7.1 million last year. The range was 48 to 66 and we need to sell 25.0 million to reach USDA. Wheat sales were 19.2 million bushels, up from 12.1 last week and 11.6 last year with 11 to 22 expected and 13.8 million needed per week. The dollar was down 415 points, gold was down $14.10, silver was down 257 points. Crude oil was stronger trading up $1.07 at $53.66. Stocks were stronger after a tough week with Dow futures up 166, Nasdaq up 55, and S & P up 21.
Support on December corn is at $3.71-1/2 and $3.65-1/2 and resistance is at $3.92-3/4 and $4.02. Support on November beans is at $9.11 and $9.00 and resistance is at $9.36-1/2 and $9.45-1/2. Support on December wheat is at $4.82-1/4 and $4.75-1/2 and resistance is at $5.05-3/4 and $5.12-1/4.