It is hard to believe that September is less than a month away, quickly bringing the crop year to a close. With harvest not that far out, ag economists say it is time to take action on old crop supplies.
“We have to start thinking about selling the carry at harvest. We’ve got big carries in the corn market, big carries in the wheat market, and even big carries showing up in the soybean market. You know, the carry from November to July, the November contract, good grief, where is it? About $9.9 somewhere there today. 9.9 a bushel from November. It’s $0.60-plus higher out to July. That’ll cover your interest costs easily and throw something else in there,” said Ed Usset, with the University of Minnesota.
Usset looks back to earlier this year, saying February was likely the last rally for America’s staple crops, saying the typical spring or summer rally just never arrived.
Mike Schulte with the Oklahoma Wheat Commission joins us to discuss drought stress in the Great Plains and the current outlook for Oklahoma’s winter wheat crop.
Farmers are closely watching upcoming U.S.-China trade talks as rising fertilizer and diesel costs continue to pressure exports, margins, and rural economies.
Stronger overseas demand for both fuel ethanol and feed co-products continues to reinforce corn use beyond the domestic market.
Ohio farmer Chris Gibbs joins us to discuss planting progress, weather conditions, and how geopolitical tensions are clouding his growing season outlook as input concerns continue to escalate.
This case could influence how much leverage grain shippers have when a preferred rail outlet is blocked or priced too high.
Farm Bureau economist Dr. Faith Parum says EPA’s final biofuel volumes keep corn demand steady and strengthen the outlook for soybean-based diesel feedstocks.
