Katy's Comments 05/27/19 10:52:44 AM
Jack Robert (2nd from left) was born March 13th 8lbs 15oz to our son Mitch and wife Brenna. He is doing wonderful and such a precious gift!
Miss Layni (8 mnths) keeps the title of princess amongst these boys! Abner (our daughter Amy holding him) celebrated his 2nd birthday in March with Lennox (2 1/2) enjoying it too! Laken (4 1/2) enjoyed sledding this winter. We are so blessed. My cup runneth over!
Wow!!! What a turn around since the last time I wrote comments! Our office phones went from quiet to constantly ringing, which they should be after a .60 cent rally in corn! The major question everyday is how high will this market go? When we dry out and have an opportunity to plant? What will the weather be the rest of the growing season? How many acres will take prevent plant? How many bushels per acre have we lost already due to poor growing conditions? The bottom line to this corn market is, this is a weather rally. None of us know the answers to any of these questions at this time. Weather, delayed planting, and the calendar are the bullish factors to this corn market. No trade deals and lack of demand are the bearish side and will not go away over night. Many of you are selling into this rally. Congrats!! that's how you reward rallies. I would also suggest that you buy call options especially on new crop sales to keep the top side open in case this monsoon season continues and the market goes higher.
Soybeans are a different story. We have the same questions as far as what will get planted and when etc etc. But, we all know there is still plenty of time to plant beans. How many, if any, acres will switch from corn to beans? The bottom line for beans is, we doubled our carryout from last year and China is not buying our beans. It is very hard for me to be friendly beans at all until we get a trade deal and that might not be till after the next election. The government has said they will do a aid payment again but this time it is going to be based on certified planted acres. Get rid of all of your old crop beans with any rally we get. The Mississippi River has been above flood stage since St Patricks Day. We have never experienced this before, as far as I know. The best estimate now, for river open, is the middle of June depending on when this rain stops.
Every year in farming is different. This one, I'm afraid, could be one for the record books. Do your homework. Know what your cost of production is and figure lower yields. Don't try to hit the home run. Take the base hit because we want you all to stay in the game!
I hope to have updated pics of my grandbabies soon. It's been pretty busy in here so my tech guy (John) hasn't had time to help me with this. :)
Have a safe finish to your planting season (whenever that might be) and thank you for your dedication and patience in farming!
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