The corn market has been a bit of a roller coaster these last few weeks. The market is currently running off weather until the next report on August 12, which should give us an accurate depiction of the crops that are out there and how beans and corn will progress through the year. China trade talks are still in discussion, if they do buy beans we could see a return on the bean market.
Do not be afraid to look to next year’s crop already, I still believe we need to be proactive. 2020 new crop corn is still hanging around the $3.75 mark and it may not be a bad idea to set your bench mark at that level. Consider doing an HTA (set futures now and wait for basis to narrow then apply the basis).
Leadership Change Update
Employees were informed July 17 that Gerry Baker from CHS Elburn is going to be our Interim Grain Manager in this time of transition.
The CHS Larsen Cooperative Grain team came together and met with four individuals from CHS Elburn in late July. The team from CHS Elburn will be collaborating with CHS Larsen to ensure all management duties are covered.
CHS Elburn is based in Illinois and handles 150-160 million bushels annually. They have two ethanol plants and one river terminal grain outlet. They have five grain facilities, including one in southern Wisconsin. This knowledgeable team will be a great resource to utilize during this time as they are well versed in grain marketing. Your local grain originator will still be your on-farm contact.
The seamless sharing of people resources across CHS businesses, when needed, is a good reminder of the value of our CHS cooperative system.
Any questions call us in the grain department, we are more than willing to help.