Market Update

May 05, 2022

Grain bins

Current Market Conditions.

With April behind us hopefully we can move on to some warmer weather and good planting conditions in May. I hope everyone has a safe and successful planting season. Here’s a few updates on how the markets have been recently.
  • The market has continued its upward trend, with Dec 2022 corn adding roughly another 60 cents since the end of March, and November soybeans pushing up close to its highs as well. 
  • We crossed and have spent a handful of days above $7 new crop corn across all of our locations and have crossed $14.50 on new crop soybeans as well. Obviously we could see further strength but so far we’ve seen people taking advantage of some great selling opportunities early in the year. 
  • Similar to Dec 2022, we’ve seen the Dec 2023 corn contract on a tear, closing up 26 of the last 28 trading sessions as I write this. 
Please check our website for bids and contact me during trading hours if you are interested in contracting for next year. 

The next USDA reports we will be looking at are the May 12 WASDE and the weekly crop progress reports each Monday afternoon. 
  • So far we are showing the US slightly behind pace on corn and soybean planting, with the next few weeks’ progress being analyzed closely by the trade experts. 
  • The next acreage report is the end of June, but keep in mind that even if the cool wet spring persists nationwide, prevent plant acres aren’t addressed on that report. 
  • On the April WASDE, corn ending stocks were unchanged with an increase in exports offset by a decrease in feed. Soybean exports were raised by 25 million bushels bringing our ending stocks down to 260 million bushels. 

As always, please feel free to reach out to your Premier team with any grain needs and happy spring! 

Jory Bossuyt

Grain Lead & Merchandising

Latest Posts

Mar 03,2023
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. 

In addition, the crop advisors and admin staff have been putting the finishing touches on crop plans and seed orders, wrapping up input financing and nutrient management plans, hiring and training new staff including college interns to help scout fields, and maybe taking a little time away to get rested for what is sure to be long days and short nights ahead. If you’re still looking to finalize plans for this planting season, please don’t hesitate to reach out to one of our highly trained crop advisors.

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!
Mar 03,2023
Cattle nutrient requirements can vary by season and stage of production. Now is a great time to evaluate your cattle mineral programs and map out a plan to maximize impact.

While minerals are a relatively small portion of the diet, they control many vital functions in cattle and impact everything from cattle reproduction to feed efficiency and overall herd health. That's why it’s so important to make sure the mineral needs of your cattle are being met year-round.
Mar 03,2023
I know many of you have plans in place for a spring burndown herbicide application. If not, here are a few reasons for you to get in contact with your Premier agronomist to do so. Spring burndown applications typically target winter annuals and perennial grasses that overwinter and resume growing as soon as temperatures warm in the spring.  As they get going in the field they immediately begin stealing water and nutrients from the soil, and can create planting challenges. With the onset of resistant weeds like waterhemp, and standby challenges like giant ragweed, it is a best practice recommendation to add a strong residual herbicide to your preplant spring burndown application.  Doing so helps keep populations down and gets ahead of your first early post application. Here are some tips for establishing clean fields that give your crop a strong start.