| Jon - 1/17/2024 21:56
I'm still trying to sell 22 crop corn
Sold 1 load of 23 corn so far
About a dozen loads of 23 beans.
Bins are all full, operating note is full, bills coming due. Been a bad boy in the marketing department lately.
There hasn't been a price offered for 24 crop that interested me yet so have ignored it.
Willing to trade grain for land lol
THIS.. I have a neighbor.. farms 1.5 x what I do.. who “doesn’t need to sell anything for another year.” He probably still has.. 67% or more of 2023 corn.. and can borrow plus use other income streams to fund his farm until 2025.
My first gig was a merchandiser at country mom and pop elevator.. 1/3 of the farmers were sold out across the scales.. 1/3 were sold out within 2 months to make the land payments.. the last 1/3.. especially the last 20%..
phone calls like this..
grain holder.. “How much do I have left?”
me.. “checking.. Well you haven’t sold anything in 3 years..”
grain holder.. “ Yal I’m not sure what I want to do..”
Other than the broke farmers.. most treat grain like a checking account.. and some like a savings account to supplement their other income streams.
They don’t have to sell.
Which makes this current standoff interesting.. who is going to blink first?
The short funds.. or the extremely entrenched grain holders?
Consider that daily usage REQUIRES inventory to move.. we feed, grind and export grain EVERY DAY.
So usage in Corn of 13.5 billion with carry out of 2 says the market is gonna need to pry 85% of the crop.. or.. 25% of the 20% who DO NOT CARE.. TO EVER SELL.. ESPECIALLY AT A LOSS.
Personally..I guess I’m in the broke 33%.. As I noted earlier.. we’ve already shipped 75% of 2023 corn crop.. I’m currently offered +0.70 or 5 something.. $5.20 or whatever.. the last I priced was $5.50.. and I turned down pricing the rest.
The market is somehow going to have to find cheaper corn.. and ship it in here to break it.
There are no piles.. and everyone agrees that the prices suck. The elevator is maybe half full vs normal. We are still deficit from the drought and will be reliant on railed in Corn.
I guess I’m gonna wait and see if the grain trade can fill this void for awhile.
Can Maizing ship corn from Canada down here or can they boat it in from Brazil?
The crop adjuster called yesterday.. “need to stop by to work your claim.”
me “thought I didn’t qualify.”
adjuster “on the dryland.. with revenue.. $5.91 price.. yes.. yes you do.”
me “cool.”
With HRW Wheat at $7.34 price x 85% = $6.24 vs KC July below that.. we are already triggered.. why do we even need to put any fertilizer down?
We’ve already put the starter down and have some carry over in soil tests..
Just let it go and turn it in?
Got the popcorn.. watching the show.
Edited by JonSCKs 1/18/2024 06:53
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Percentage sold
