The USDA released their plantings and stocks report this morning. Corn stocks are below average trade guess. Bean stocks are also below guesses. Acres are higher for corn. What? Really? Maybe they did this just to tell us they will resurvey. Also, these numbers are from June 1st. You and I both know things have changed since then. Bean acres are higher also. This I can believe.
Producers should be aware of the inverse that is hitting the corn and bean markets. This simply means that the market is not paying you to store your crop. So if you’re still holding old crop bushels, it is certainly time to think about moving some. Here at Allied Cooperative, we are keeping our inventories low so we don’t have to carry bushels into the future where the price is eroding. Feel free to call me if you need help sorting it out.
– Rich Dahlke, Grain Merchandiser