Grain Silo Demolition at FC-Churdan

Churdan, IA, March 8, 2013:   Farmers Cooperative Company (FC) removed two grain silos on March 8, 2013, at its FC-Churdan facility after structural integrity issues were discovered.  The two silos were removed as a precautionary measure to ensure the safety of employees, customers and the public.  “Engineers determined the safest and most cost effective way to deconstruct the silos was by implosion, so that is the path forward we selected,” said FC Senior Vice President of Grain Operations, Marvin Hodgson.  “Our internal resources worked with contractors and a qualified demolition expert to lower the silos safely,” he added. “Now that the silos are down, we can safely begin the clean-up efforts.”

All inquiries directed to FC should be forwarded to FC Senior Vice President, Grain Operations, Marvin Hodgson at mhodgson@fccoop.com (515) 290-5184 

March USDA S&D Recap

USDA March S&D Report Recap

Friday, March 8, 2013, 11:16 am
Submitted by: Dustin Weiner

The report came out, initial glance looks a little friendly to corn and negative to soybeans.  The USDA did NOTHING to ending stocks projections, leaving them the same as last month.  They left the corn carryout the same – when the market was expecting a slight increase.  They left the soybean carryout the same – when the market was expecting a slight decrease.  

Corn:

To get to their number they decreased corn exports (from 900mb down to 825mb) and increased feed/residual usage and imports to offset it exactly.  This leaves the carryout at 632mb.  Exports are now projected to be 1 billion bushels less than two years ago.

Soybeans:

They changed NOTHING.  Yep.  Nothing.  No change to either export or domestic demand projections.  With the additional business from China this past month (thanks to SA shipping delays), this is a surprise.  The U.S. is well ahead of this projected pace on soybean exports – this report would indicate that exports will need to come to a grinding halt this Spring/Summer sooner than planned.

Currently

Corn is trading around a nickel higher

Soybeans are down 10 to 15 cents

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1629

FC Market Commentary for March 8, 2013

AM Comments 03/08/13

Good morning!

Our markets are starting off choppy/mixed – with the USDA S&D report out at 11am it should be a quiet morning up until then.  Both corn and soybeans spent most of the night session trading higher, with both markets now hovering around unchanged.

Again, the market is expecting slight increases in corn carryout and slight decreases in soybean carryout in this report.  With the big March 28^th stocks and planting intentions report hanging over our heads – this report has a chance to be a dud.

The extended weather forecast in South America looks the same as it did yesterday – which is non-threatening.  The ‘weather market’ down there feels like it can officially be put to bed.

Currently

Corn is 1 to 3 cents higher

Soybeans are 1 cent higher to 1 cent lower

Have a great day!

Dustin Weiner

Farmers Cooperative Company

Ames, Iowa

A.M. Grain Market Commentary for 3/6/2013

3-6-13 AM Comments

Wednesday, March 6, 2013, 8:11 am
Submitted by: Jon Setterdahl

Grain markets all lower to start this morning on basically a lack of news and some consolidating trade ahead of Friday’s USDA monthly supply/demand report. Trade feeling better about US crop potential with recent precipitation events, although some areas in the western corn belt remain very dry. South American weather is ok, with increased rain chances for dry areas in Argentina. Brazil soybean harvest progressing well, except for the 60-day waiting time to load ocean vessels. The Brazilian corn crop is also good, with their double-crop corn reportedly excellent so far.

USDA report Friday could see some demand adjustments to the export categories….corn might be lowered further and soybeans increased.  The more important USDA report this month will be the intended acreage and quarterly grain stocks report out on March 28^th.  The stocks number will verify estimates for domestic feed demand and set the tone for prices heading into planting season. After that, it’s all weather.

Corn & Beans:  both down 3-5 cents this am

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1624

A.M. Grain Market Commentary for 3/5/2013

AM Comments 03/05/13

Tuesday, March 5, 2013, 8:18 am
Submitted by: Dustin Weiner

Good morning!

Our markets are higher – led by soybeans.  The USDA announced this morning the sale of 330k MT of old crop soybeans to unknown (probably China) and 345k MT of new crop soybeans to China.  Once again, these additional old crop sales are stretching this U.S. soybean crop awful thin – which has prices rallying.  You can thank continued delays at the ports and in the fields in Brazil for this extra demand.  FYI - Chinese crush margins are still profitable by have slipped well off their highs.

The CME group announced new trading hours starting the night of April 7th.  The new hours are as follows:

·         Both the pit and electronic sessions will open at 8:30AM

·         Both the pit and electronic sessions close at 1:15PM

·         The electronic session opens back up at 7PM (starting a new trading day)

·         The electronic session pauses at 7:45AM, opening back up with the pit at 8:30AM

This changes the total hours traded down to 17.5 hours from 21 hours.  This reduction in hours comes from criticism that the trading schedule had become bloated - creating periods of low-volume, high volatility trade.

Friendly reminder: FC will be hosting a producer grain marketing meeting in Farnhamville tomorrow (03/06/13) at 9 AM to discuss current and upcoming market influences.

Currently

Corn is steady to up 2 cents

Soybeans are 10 to 12 cents higher

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1623

FC Supports National Agriculture Day March 19th

Ag Day is March 19, 2013

National Ag Day is March 19, 2013.

It is a day to recognize and celebrate the abundance provided by agriculture. Every year producers, agricultural associations, corporations, universities, government agencies and other organizations join together to recognize and celebrate the contributions of agriculture.

FC would like to recognize and thank all of our agriculture producer owners here in Iowa, local FFA clubs and anyone in the food supply chain that is helping to feed the 7 billion people on this planet. Thank you!

FFA Club of East Sac County (Iowa)
Instructors: Larissa Rupnow and Ben Wise

FFA Club of West Hancock School (Britt, Iowa)
Instructor: Paul Hauge
Row 1: Kamille Kronemann, Emmorie Stokka, Anna Mallen, Kellie Schmit, Abby Paca, Jessica Gray, Melissa Loeschen, Derek Thilges

Row 2: Drew Redenius, Jon Burgardt, Jeremy Zuehl, Adam Kline, Scott Glawe, Tristan Eden, Alex Flaten, Kevin Tlach

Row 3: Jacob Hejlik, Kelly Anderson, Taylor Glawe, Cassi Jackson, Rachel Francis, Alyssa Wood, Rachael Smith, Maribel Zamago, Mark Roth

Row 4: Logan Brown, Bailey Eisenman, Leah Christ, Alexa Cockrell, Taylor Beachy, Elizabeth Zamago, Ashley Wicks, Logan Jones

Row 5: Tommy Nelson, Logan Weiland, McCaully Johanson, Klayton Lamoreux, Mitchell Anderson, Michael Eekhoff

South Central Calhoun FFA

Instructors: Mr. Lantz and Mr. Carlson

National Ag Day is organized by the Agriculture Council of America and is based in Overland Park, Kansas.

A.M. Grain Market Commentary for 3/4/2013

AM Comments 03/04/13

Monday, March 4, 2013, 8:00 am
Submitted by: Dustin Weiner

Good morning!

It looks to be a quiet start to the week this week with both corn and beans flirting with unchanged. There were welcomed rains that fell across Argentina which is putting a little pressure on the soybean market. There isn’t much else pushing or pulling the market this morning.  The $US is relatively flat while the financial markets are on the defensive as spending cuts go into effect with no progress between the democrats and republicans in sight.

The USDA will released their monthly S&D report this Friday – this will only involve old crop.  The trade thoughts are leaning towards a slight increase in corn carryout and no changes to the soybean carryout.  More trade guesses will be out later this week.

Currently

Corn is steady to up 2c

Soybeans are steady to up 1c

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1622