Moisture At Harvest Is Not A Popular Subject
I realize moisture at harvest is not a popular subject; however, the brief shower that we received Sunday morning was welcomed – there’s just something about the smell of fresh rainfall…
2017 Harvest Prices - current price averages:
Barley - $3.19
Canola - $.18
Fall wheat - $5.20
Spring wheat - $7.07
2018 Projected Prices - Today begins the discovery period for 2018 harvest prices, except canola which is now set (not yet announced by RMA). My next update will include these averages as well.
Canola - $.1750
Markets - We've all felt and continue to see the reaction to last Thursday's monthly report from USDA...here's a sampling of what market analysts are saying...
"It was a bad report...it seemed like the end of the world was coming..." Jerry Gulke, The Gulke Group
"Blow below the belt..." Darin Newsom, DTN
"This is criminal..." Chip Flory, Market Rally
Help me understand how the report cannot reflect the decrease in harvested acres of spring wheat and winter wheat acres that have been abandoned/hayed/grazed from the upper Midwest (Dakotas and Eastern MT). How can the highly touted USDA weekly crop condition reports not reflect the potential yields with corn and soybeans? It's frustrating to say the least.
Meanwhile, click the link to read about how NASS explains the reason for the disconnect...
Exports remain robust and ahead of last year's pace as well as USDA's predicted pace. Russian crop projections continue to grow, quality issues surfacing in EU crop at harvest as well as the South American crop.
Bond market continues to show signs of traders positioning to protect...
Boris never misses an opportunity to take advantage...read it here
Weather - Drought conditions have not improved, continue to strengthen and spread, now nearly contiguous border to border. Recent cooler than normal weather has masked the true field conditions and delaying crop development, providing concern for an early frost event and damage.
Until next time...
“Being the best that you can be is possible only if your desire to be a champion is greater than your fear of failure.” ~Sammy Lee
McGregor Risk Management Services, LLC
Cell - 509.540.2632
Office - 509.843.2599
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