FC Morning Grain Market Commentary for 10/4/2013

AM Comments 10/04/13

Friday, October 4, 2013, 8:26 am
Submitted by: Dustin Weiner

Good morning!

 

Showers and thunderstorms are sliding across much of Iowa this morning – some parts of the state are reporting as much as 2” of rain with more coming later on.  This same storm FYI is also expected to give the Black Hills 2’ of snow.  Harvest in the WCB is effectively shut down for a bit.  The extended forecasts do appear warmer and drier which should get it fired back up again, it looks like there no chances of rain until late next week. 

 

Overnight the trade was pretty quiet.  The corn market chopped around while the soybean market took a few profits from yesterday and traded lower.  Demand for soybeans remains strong both in domestic crush (margins remain good) and in exports. Later this morning Informa will be out with their estimate of the US ’13 crop sizes which could give the market some input.  The general feeling is that yields are coming in higher than the last USDA report showed – especially in corn. 

 

Opening Calls

Corn steady to 2c higher

Soybeans 4 to 7 cents lower

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1870

 

Farm Vehicle Safety

Harvest season means more farm vehicles will be sharing the roadways with other vehicles. That includes combines and other harvesting equipment moving from one field to another, as well as trucks and tractors transporting produce. To help ensure your safety:

• Display the Slow Moving Vehicle (SMV) emblem on all off-road vehicles. Make sure emblems are in

  

  During harvest time, make sure your equipment is properly
  equipped for safe travel on the roads. 

  good condition and properly mounted.
• Use proper vehicle lighting.
• Use flashers anytime you use public roads. The American Society of Agricultural Engineers (ASAE) recommends two flashing amber lights, mounted at least 42 inches high, in both the front and rear.
• Comply with your state laws. Most state laws require using headlights 30 minutes before sunset, until 30 minutes after sunrise.
  
  Also use headlights whenever insufficient light or unfavorable weather conditions exist. ASAE recommends two headlights on the front, at the same level, positioned as far apart as possible. They also recommend one rear-left and one rear-right red taillight mounted as far apart as possible, and two red reflectors visible from the rear.
• Inspect hitches to verify they are sturdy and properly mounted before towing equipment or using wagons. Always use safety chains, if equipped.

We can all be a little safer this year by following these simple safety tips. Stay safe! Together we can!

http://www.nationwide.com/pre-harvest-safety.jsp

Combine Pre-Harvest Preparations

As harvest is gearing up across the FC territory, it is important to make sure that proper safety steps are being taken when harvesting. In fact, your safety check should take place before farmers turn on their combine. Below are several important pre-harvest safety tips to consider.

Stay safe during harvest. Photo (c) Nick Halverson

• Begin several weeks before harvest to allow necessary lead time to secure needed replacement parts and to efficiently prepare the combine for harvest.
• Review your operator’s manual. A quick review will help experienced operators refresh their memories about correct operating procedures and appropriate safety precautions.
• Thoroughly clean the combine to remove any field trash, rodent nests, and oil or grease buildup.
• Carefully check for loose or missing nuts, screws, shields, and sheet metal.
• Inspect all belts, chains, and other drive components. 

We look forward to seeing you drop of your harvest at one of our locations this season. Stay safe! Together we can!

http://www.agweb.com/article/national_farm_safety__health_week_combine_safety/

FC Morning Grain Market Commentary for 10/3/2013

AM Comments 10/03/13

Thursday, October 3, 2013, 8:32 am
Submitted by: Dustin Weiner

Good morning!

 

The markets are trading higher this morning, some of it thanks to these rains delaying harvest, and some of it just on the idea that the market is trying to generate some selling interest.  Export sales were NOT out this morning, thanks to the government shutdown. 

 

Weather.. the first snow of the season is expected for Western South Dakota and parts of Nebraska today and tomorrow with rain moving into the rest of the Western Corn Belt.

 

Currently

Corn 3 to 4 cents higher

Soybeans 8 to 12 cents higher

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1868

 

FC Morning Grain Market Commentary for 10/2/2013

AM Comments 10/02/13

Wednesday, October 2, 2013, 8:09 am
Submitted by: Dustin Weiner

Good morning!

 

The soybean market was higher last night.  At first glance it just looks like a bit of a recovery or bounce on the soybean chart, however there is a little bit of fundamental news that supports the move.  First of all, the weather in the U.S. is going to be more active the next couple of days, potentially delaying bean harvest a bit and secondly – it is still dry in parts of South America which is delaying planting. 

 

Overall these aren’t major issues but on a slow news day – it is worth mentioning.  The extended forecasts are showing some normal to above normal temps and normal to below normal precip which should let harvest progress easily through next week.

 

Opening Calls

Corn steady to down 2c

Soybeans 5 to 7 cents higher

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1867

 

 

FC Morning Grain Market Commentary for 9/27/2013

AM Comments 09/27/13

Friday, September 27, 2013, 8:12 am
Submitted by: Dustin Weiner

Good morning!

 

The markets were pretty quiet last night – with the Quarterly Stock Report coming Monday and a harvest weekend ahead of us, we shouldn’t be too surprised.  This stocks report isn’t expected to do much to our markets, BUT the last two Sept stocks reports have caused limit moves (one way or the other), so… you never know.

 

Weather for the US still looks bearish with warmer and relatively drier conditions in the forecasts.  South American weather may be a little bearish as well because Argentina is expected to get some much needed rains this weekend. Planting had been delayed down there due to dry conditions.

 

Opening Calls

Corn down 1-2 cents

Soybeans up 3 to 5 cents

 

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1860

 

FC Morning Grain Market Commentary for 9/24/2013

AM Comments 09/24/13

Tuesday, September 24, 2013, 7:55 am
Submitted by: Dustin Weiner

Good morning!

 

The soybean market bounced higher last night on what appears to be a little short covering.  Nov soybean futures had dropped $1/bu since the start of September – it looks like the market may finally be tired of working lower, at least for today. 

 

Corn has so far been unable to take out the Dec contract lows, and on the chart it looks like it may be trying to form a double-bottom.  This could be viewed as supportive in the short term.  Long term however, if these yield reports continue to come in near or above expectations corn is going to struggle to rally. 

 

Other than that… pretty quiet.  Turnaround Tuesday on the beans and everyone is watching yield reports on both commodities.  This coming Monday (Sep 30^th) is the USDA’s Quarterly Stock Report – it will give the market some final numbers as to our ‘carry-in’ for this year and it will likely be a market mover.

 

Opening Calls

Corn mixed, 1c lower to steady

Soybeans 8 to 10 cents higher

 

http://www.fccoop.com/markets/commentary_detail.cfm?CommentaryID=1856