Quick Ship Soybeans and Storing Corn
The rains falling across the Midwest are delaying harvest for the moment, but they may also bring with them a sales opportunity for farmers. That's because the amount of soybeans left in the nation is pretty small, and processors are in need. University of Illinois agricultural economist Darrel Good says, if farmers can get in and harvest, they might find some pretty good basis levels.
The sooner the better and the higher the quick ship premium, although those are likely to disappear quickly thinks Darrel Good.
We are coming off a period in central Illinois when spot soybean prices were running well above November futures. Twenty to thirty cents above, but it has begun to erode. However, we are still looking at prices pretty close to option value. It says to me with big yields and that kind of price, well over $9.00, revenue looks pretty good by selling some soybeans at least, if not a majority of the soybeans right out of the field.-Darrel Good
The sooner the better and the higher the quick ship premium, although those are likely to disappear quickly thinks Darrel Good.
Store #corn, but you’ll need to hang on for a while says Darrel Good.https://t.co/gydUMuQa17 @uie_ag pic.twitter.com/4CeVV9RrGX— Todd E. Gleason (@commodityweek) September 15, 2016
