Grain Update - April 2023

Apr 05, 2023


Grain Bin

April 2023 Update.

The end of February and beginning of March was tough in the grain markets, but the last few weeks in March have been a nice rebound, giving us about half the downward move back in corn and about 1/3 in soybeans. As we go into April and May the focus will shift to planted acres, planting progress, and weather. Historically, spring is a great time to sell new crop corn and soybeans, so keep a close eye out or let us put some targets in for you. 

The past 3 weeks have brought almost daily export corn sale announcements, much needed to achieve the USDA’s export projections. Exports have been lagging and were adjusted slightly lower in the March WASDE, but the other 2 main demand categories of ethanol and feed are relatively stable. There was a slight increase in corn carryout due to the export adjustment mentioned above. Soybean carryout was lowered a touch based off higher exports and strong crush. Inverses in the market continue to strengthen, indicating tight supplies and good demand. 

Lots to keep an eye on in the next few months, but hopefully it leads to some good selling opportunities. And hopefully everyone enjoys the warm weather that’s on the way!
 

Jory Bossuyt

Grain Lead & Merchandising
 

Latest Posts

May 03, 2023
Focusing on Plant Nutrition at V5
After your corn crop gets to emergence and the weather conditions are cooperating, it develops rapidly, completing a growth stage approximately every three days. By the V5 stage, corn plants have put on significant root mass, making it an ideal time to focus on plant nutrition and stress reduction to maximize yields. Let’s take a look at 4 early-season management strategies to support your developing crop and maximize your return per acre.    
May 03, 2023
Well, my snowmobiles, snow thrower, winter clothes, salt and shovels are all put away until they’re needed again in about 230 days. I know no one wants to think about next winter but our propane contracts will be mailed out in June. Once again, those who contracted last year came out money ahead as propane prices this past winter exceeded the contract price. I lock my propane price in every year because I know after 32 years in this business that propane prices typically increase during the winter months. You can almost set your watch by it.
May 03, 2023

As I write this the last week of April, we still have a couple of nights of sub-freezing temperatures to deal with, but that doesn’t seem to be slowing down our agronomy locations that are now entering their busiest time of the year. Long days and short nights can be the norm this time of year for our agronomy division and our producer members as they work to get this year’s crop in the ground. This is a great reminder to please pay special attention over the next couple of months to farm machinery pulling in and out of the fields and wide loads coming around the next corner or over the next hill. Whether you are in your car on your way to work, or in the tractor moving to the next field, never assume the other person sees you. Slow down and be extra careful. 

Related Posts