Mission Statement "To grow profitablility, retire shareholder equity, and provide sound employment opportunities while striving to keep the local communities strong."
GOOD MORNING MAY 24, 2013
Grain markets will be closed on Monday, May 27th
in observance of Memorial Day.
05/06/13
Courtesy of Derek Teal
Check out the new McCoy News tab on the left! New announcement!
Co-Ag Farm
With new crop prices being below what I want to make sales at, I'm holding tight for the time being at 30% sold. If new crop could break the $8 mark again, I will be taking a serious look at pricing a small amout of additional bushels. Any run above this into the $8.20's and I will be pricing more bushels for sure. This will keep my average selling price where it is, and keep my ROI goal intact.
Reports out of the midwest are saying that the winter wheat crop is looking rough. They have have sub-freezing temps for as long as 20 consecutive days in some areas with little to no moisture and high winds. If the crop continues to look suspect, we may be in for a rally to higher ground and pricing more crop.
Take a look at the Co-Ag Farms J.V. Link to find out more.
Chicago futures are currently down 4 cents. Traders estimate spring wheat planting is 80-85% complete here in the U.S. and in Canada over 50% done. Total new crop wheat sales on the books are currently 1.5MMT ahead of last year at 4.828MMT. Australia is reportedly off to a good start on their wheat crop after recent rains. Concerns about disease in the soft wheat crop are surfacing after the recent rainy pattern, but a ridge is forecast to bring drier weather for the first week of June.
Pea & Lentil bids - 5/8/13 - Green & Yellow peas, and pardinas are nearly all bought in. Carryover will be nil going into the new 2013 crop harvest. There is still a sizeable supply of regular lentils, but they are being shipped rapidly. Lentil plantings in Canada are expected to be at least 15 - 20% down. Green pea acreage in Canada is expected to be up, but may be limited by seed availability. Weather conditions in Canada and the Midwest have improved and the forecasts favorable for the rest of the month. They are still behind average planting dates, but if the good weather holds, they can get seeded in ample time.
