Mission Statement "To grow profitablility, retire shareholder equity, and provide sound employment opportunities while striving to keep the local communities strong."
My DEC12 HTA offer at $7.50 is fading away! DEC12 futures are at 6.83 right now. From here on out, once cash prices for new crop get back to that 7 dollar mark I'm going to lock some in with forward contracts. With the world and US carry numbers what they are, we all have plenty of wheat to go around and the market may have a tough time supporting these prices once the new crop starts rolling in. I am still at 20% sold for new crop, so when 7 does appear again I'll be all over it. My goal is to be 30% sold by the end of April and 40%-50% by the start of harvest with my target prices above 6.84(8.05 spread over 100% of my crop rather than 85%). I also put in an offer for an HTA for SEP13 at 7.50 and this will be my starting point for the 2013 crop.
Take a look at the Co-Ag Farms J.V. Link to find out more.
Our Market Comments
Futures are currently down 1 cent. Traders say that wheat demand could increase as more livestock producers feed their animals wheat instead of corn. The cold weather and potential export disruptions in Ukraine and Russia could also boost U.S. exports, traders add, although they say some disruptions have already been priced into the market. World stockpiles are expected to hit record highs this year, which is limiting any concerns over crop disruptions in the Black Sea region.
Pea & Lentil bids - Peas are holding steady at this time with limited demand keeping pace with limted grower selling. Still offers only on lentils with grower selling and offers exceeding the very limited demand.Indications at $29.00 to $30.00 for both regulars and pardinas. Richleas at $24.00. The hoped for post holiday demand many expected has not come. Buyers are buying hand to mouth as needed in smaller volumes. Small to zero purchasing by USDA has not helped. Early expectations are that Canada will have a sizealbe carryover of peas and lentils, and that pea and lentil plantings will be reduced there. Canadian grower prices are much lower than U.S. prices.
Barley- Feed wheat is putting pressure on the barley market.
