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Market Update

Aug 02, 2022

Grain bins

Current Market Conditions, 8-2-22

Hopefully you’ve had a great summer so far and continue to in August as well. I’m seeing a lot of corn tasseling around the area and some parts have been catching significant rainfall, hopefully your crop is looking good so far. 79% of Wisconsin corn is rated good or excellent on the USDA’s last weekly crop conditions report, while 61% of the US as a whole is rated good/excellent. Wisconsin soybeans are 79% g/e and the US is 59% g/e.  

We have seen the markets sell off significantly throughout July due to macro market conditions and an agreement for grain being shipped out of Ukraine. So far, there has not been anything shipped and only time will tell if they are able to overcome multiple obstacles to do so. US Crop conditions have recently provided some support, with hot dry weather across portions of the corn belt leading to slightly lower than expected crop ratings. Focus in the next few weeks will be primarily on weather, so keep a close eye on your crop and the markets for any further new crop sales that you’d like to make. 

ACH PAYMENTS
Would you like to receive your grain payments sooner? Now is a good time to get signed up for Direct Deposit/ACH payments. With ACH payments you get your money faster, avoid potential postal issues, and get your settlements emailed to you for quick access. To sign up, fill out the form here and Premier Co-op staff will then contact you to verify your sign up as a security measure. ACH payments can save you the hassle of a lost check or going to the bank, especially helpful during the busy season. 

If you have any questions on current market conditions or want to discuss a marketing plan, please reach out to me at (608) 634.3184.
 

Jory Bossuyt

Grain Lead & Merchandising
 


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