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The only trade made in the past 2 weeks has been the addition of another 20% in sales for fall soybeans. This additional sale takes us to 50% sold for fall soybeans at an average price of $10.25. If we sold the remaining 50% using tonight’s close of 9.52 our average for fall soybeans would be $9.97. Much of the attention in soybeans this week centered around Brazil and the sharp deterioration of their currency due to political scandals and the potential fallout resulting from these issues. For the farmers in Brazil the sharp drop in the Real created an opportunity for them to sell large quantities of cash beans at better prices. The longer term effects of this are far from known.
In corn we remain patient, and perhaps even more so after today’s strong rebound following yesterday’s South American lead decline. Corn seemed to get washed up with soybeans this week at times but on the week corn was up 1.5 cents as US uncertainties in weather and acreage continue to support the market. Our view is we will see modestly better values within the next 30-40 days.
River Valley Cooperative's MarketEdge Program is designed to provide grain producers flexible pricing programs and delivery options based on the needs of your farming operation. Utilize futures and basis contracting to support pricing opportunities on grain marketing.
We offer transportation and logistics support for timely and cost effective delivery to market. In addition, utilize technology services aimed to improve the communication, execution and recordkeeping of your grain marketing supported by your Grain Marketing Team.
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