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Beans up BIGLY

Looking good down here for yields & prices. That belt above Des Moines that got flattened will have a tough year. This year should be good year for the majority though. A good bit of crops are combined in my region.
 
We are finishing up beans here today. Lowest yielding field was 64 highest was 71. Normally look forward to corn but not this year with the wind. We have 150 acres that insurance zeroed out. The rest will be no fun. Critters should eat well around here all winter.
 
Nrharris said:
We are finishing up beans here today. Lowest yielding field was 64 highest was 71. Normally look forward to corn but not this year with the wind. We have 150 acres that insurance zeroed out. The rest will be no fun. Critters should eat well around here all winter.
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Nice Yield on the beans!
 
Taking advantage of beans out of the field with delivery to the river.


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Where's a good place to get current prices?
Riddle me this, why do all the local guys quote prices from local coop? Do you think most are selling locally, or trucking to the bigger markets for better prices?
 
deerdown said:
Where's a good place to get current prices?
Riddle me this, why do all the local guys quote prices from local coop? Do you think most are selling locally, or trucking to the bigger markets for better prices?
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I get prices from buckingham coop. We sell through them to the cedar rapids processors. Their site shows basis levels for their location as well as cedar rapids corn and beans for cedar rapids and iowa falls. Also has dtn weather on there which I use a lot.
 
Nrharris said:
I get prices from buckingham coop. We sell through them to the cedar rapids processors. Their site shows basis levels for their location as well as cedar rapids corn and beans for cedar rapids and iowa falls. Also has dtn weather on there which I use a lot.
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Buckingham coop? My Mom used to keep books for Orville there.


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JNRBRONC said:
Buckingham coop? My Mom used to keep books for Orville there.


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I knew Orville from church, he was a nice guy. Bob, the guy that runs it now is as good of a guy as you could ask for. He is the main reason we sell through there. Its been a well run coop for a long long time.
 
I am a merchandiser for a river terminal for my daytime gig. I can honestly say I have never seen a rally like this happening in the fall. Hedge funds are longer now than when 2012 drought was happening. My advice is to sell the beans and store all the corn you can. It makes no sense to store the beans. Buy them on paper if you want to hang in there, or put on a basis contract vs a deferred month. My personal bias is bullish corn neutral beans. South America will be the wild card on beans. We know they will be planting record amounts of beans, but will it rain.
 
Sod Savage said:
I am a merchandiser for a river terminal for my daytime gig. I can honestly say I have never seen a rally like this happening in the fall. Hedge funds are longer now than when 2012 drought was happening. My advice is to sell the beans and store all the corn you can. It makes no sense to store the beans. Buy them on paper if you want to hang in there, or put on a basis contract vs a deferred month. My personal bias is bullish corn neutral beans. South America will be the wild card on beans. We know they will be planting record amounts of beans, but will it rain.
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What do you think is driving the bean rally? My assumption is that the beans aren’t as good as everyone thought. I’ve talked to several farmers in Iowa and KS and beans seem to be off 20 bushel from that hot dry spell late summer. lots of tiny little beans. Also, just curious why so bullish on corn? Other than the derecho area yields seem pretty strong from what I have seen. Wheat could be a complete loss in ks if we don’t get rain soon. everyone is planting into dust and no rain in the forecast.
 
nontyp said:
What do you think is driving the bean rally? My assumption is that the beans aren’t as good as everyone thought. I’ve talked to several farmers in Iowa and KS and beans seem to be off 20 bushel from that hot dry spell late summer. lots of tiny little beans. Also, just curious why so bullish on corn? Other than the derecho area yields seem pretty strong from what I have seen. Wheat could be a complete loss in ks if we don’t get rain soon. everyone is planting into dust and no rain in the forecast.
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China is buying beans like crazy. I think there are other factors, but I think that is the main one.
 
Beans are strong in MN, but weak in ND and parts of SD. Western IA has some areas where the yield on beans is down, plus the derecho in other parts of IA.
 
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