August Update.
I hope everyone has had a great summer so far and have received enough timely rains to keep pushing this crop along. Although it is only August, your Premier grain team is working to be ready for harvest. Shipping grain, cleaning bins, equipment maintenance, and repairs are all being taken care of now. Fall will be here soon enough, and we will be prepared for the rush.
One addition to the harvest season this year is that we will be sending out texts for each Premier location as needed updating hours and other important information. Contact us today to get put on your location’s list. If you already receive cash bids texts, we have all the necessary contact information. If you don’t, just let us know your name, phone number, cell carrier, and which location’s alerts you would like to receive, and we will get you set up.
We now offer grain settlement payments via direct deposit. This will allow members to receive grain settlement payments quicker and simplify the payment process. As a member you can sign up to receive ACH payment on the company website under the grain marketing tab. An email address is required to receive settlements. Please contact your grain marketing group if you have questions.
Price has been incredibly volatile over the past few months as we’ve been in the middle of a true weather market. Each update to the weather models bring hefty price movements, both to the upside and downside. With each weather update, think about how the nation’s yields are affected and, in turn, the carryouts change. Current estimated 2021/2022 corn carryout is 1.43 billion bushels, and soybean carryout is 155 million bushels. Compare this to 2020/2021 projected carry outs of 1.08 billion bushels of corn and 135 million bushels of soybeans. We can keep an eye on these figures monthly, with the next release being August 12th at 11:00 am. Please feel free to reach out with any grain marketing questions.
Jory Bossuyt
Grain Lead & Merchandising
