Markets today ?

[tmyrfield]

For me the hardest part of marketing is the separation of basis and futures. Often the two seem to go hand in hand but sometimes they go opposite. One has to remember that the basis is the signal of how badly the grain buyers want your grain. So generally speaking the basis is better the further out you go or if the delivery period is at an inconvenient time for farmers to deliver like seeding or harvest. The futures are set by all the players in the market which includes "the funds". The funds do not want to take delivery, they just want to make a profit on the moves of the grain market, up or down. The grain buyers will give you an incentive with a good basis and the funds will give you an opportunity to get your price with volatility in the market. Shopping around for the best basis and then putting on and KEEPING ON target prices ensures you get your sales at your levels. Waiting till you absolutely need cash and then making sales really only helps the grain companies because they then are able to buy your grain more cheaply with a poor basis. Marketing discipline and consistency in my opinion is the most important and toughest job of being a farmer.

[farming101]

$12 June excellent. Target hit or posted price?

[Partners]

Posted price..They have a $10 premium on till noon also...

[farmaholic]

I wish I was within a reasonable trucking distance of the crushers....

101...tell the GrainCos not to ignore demand....I demand. $12/bu.

[wmoebis]

I wish I was within a reasonable trucking distance of the crushers....

101...tell the GrainCos not to ignore demand....I demand. $12/bu.

Rail freight cheaper than trucking. Be nice to load rail car close to home and ship to crusher.

[furrowtickler]

Hmmmm , positive biodiesel incentive out of the US driving beans today .
Now if only that could happen in Canada eh ?

[farmaholic]

Presently March over May inverse but not by much.

I never looked....did bean oil or soybeans push it up or is Canola a big boy now and making it's own moves.

[errolanderson]

Rumoured Trump biofuel changes sparking monthend fund shortcovering . . . .

[fjlip]

Hmmmm , positive biodiesel incentive out of the US driving beans today .
Now if only that could happen in Canada eh ?

Corn and soybean futures soar on signs President Trump could retool a federal mandate that sets annual requirements for how much ethanol and other biofuels must be mixed into the nation's fuel supply. The Renewable Fuels Association, an ethanol industry group, says it learned from the Trump administration that a pending executive order would make changes to the way ethanol is blended into US gasoline, which grain traders see as a boon for
ethanol production as well as corn, the main feed stock in the bio fuel. Potential changes to the mandate also are seen as positive for soybeans, used to make biodiesel. CBOT March corn jumps 2.9% to $3.70 3/4/bu while soybeans rise 2.3% to $10.34 1/2. (DJ)

[Oilking]

Uh-oh. More ethanol needed = more corn acres needed. I guess this kinda throws a wrench into last weeks USDA forecast. The acreage battle has just begun. Less beans and more corn now.