Grain Update - March 2023

Mar 03, 2023

Grain Bin

March 2023 Update.

Another February down, and I don’t have many complaints about the weather. I had a lot of days outside working in a sweatshirt, and not too much snow overall. 

As we are coming to the end of the spring crop insurance pricing period, it looks like corn will be at 5.95 and soybeans around 13.75. Last year’s prices were 5.90 and 14.33. In general prices were pretty stagnant until the end of the month. The next reports to watch for are the monthly WASDE on March 8th and planting intentions on March 31st. 

The USDA held their annual Ag Outlook Forum, releasing some estimates for corn and soybeans. They expect 91.0 million planted acres of corn vs 88.6 last year, increased ending stocks and stocks/use %, and decreased avg farm price. Soybeans are estimated at 87.5 million planted acres, which is the same as last year. The other metrics are the same as corn – increased ending stocks, higher stocks/use %, and lower price as well. These figures are obviously subject to changes between now and planting and weather determining yields, but interesting to look at anyways. 

Historically, spring is a great time to forward contract grain, especially for your upcoming crop. Give me a call at 608.634.3184 and we can look at breakeven projections, and have some goals in mind before the weather changes and you’re busy getting equipment ready and taking care of spring projects. 

Jory Bossuyt

Grain Lead & Merchandising

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With spring just around the corner, your cooperative is gearing up for another one of our seasonal rushes…spring planting season. Not only will we see our total employee count peak for the year, but nearly every asset in the company will be in use. While many businesses have equipment and buildings that are in use all year long, our grain and agronomy divisions have millions of dollars invested in some assets that only get used for a few months out of the year. It is critical that these assets are fully operational and ready to go when the season starts. Our agronomy operations team has spent the winter months going through all the equipment to make sure it's in good working order, unwrapping and greasing up the new sprayers, trucks and other equipment we’ve purchased this year, updating technology and precision tools on existing equipment, and conducting hours of training on its use and safety. 

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Gearing up for spring is not only about the equipment, but also the additional staff needed to provide the products and services our members rely on to help feed the world. Each year we try to fill about 100 full and part time positions at our eleven agronomy locations. These positions can last from six weeks up to eight months. Most seasonal positions involve delivering product to our members or directly to fields to keep our custom application machines running smoothly. If you or someone you know is interested in seasonal or year-round employment, please contact Shayla at our Mt Horeb office or stop by one of the agronomy locations. The hours can be flexible and available up to seven days a week. If agronomy work isn’t for you, ask about openings at any of our other locations including retail associates, plant operations, truck drivers, administrative professionals and more. Premier is always looking to add quality people to our team.

Thank you for your continued support of Premier Cooperative and its staff. Have a great month and stay safe!
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