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Grain bins

Market Update

May 19, 2022

Monthly WASDE Report Last week we saw the monthly WASDE report released on Thursday the 12th. We didn’t see any change on the 2021/2022 corn ending stock number of 1.44 billion bushels. This report was the first release of 2022/2023 balance sheet that put ending stocks at 1.36 billion bushels, giving us a 9.3% stocks to use ratio, slightly below 21/22’s 9.6%.   22/23 soybean ending stocks are estimated at 310 million bushels, up from the 21/22 projected 235 million bushelthe expectation of expanding acres and yield bouncing back from this year’s drought in South America.s, with a 22/23 stocks/use figure of 6.8% vs 5.3% in 21/22. World carryouts were increased using large crops from both the U.S. and South America, with

Grain bins

Market Update

May 05, 2022

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! 

Fertilizer-Tender Truck

From the Manager's Desk

May 05, 2022

While coming in a little later than the last couple of years, spring is finally beginning to make an appearance. As I write this the last week of April, we still have a couple 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. If you have teenage drivers at home, please share this reminder with them as well.   

Propane Construction

May Energy News

May 05, 2022

Yay for May! It sure feels good to get outside without all of the heavy winter accoutrements. Tennis shoes and shorts will soon be the normal outerwear but I’m not sure if the world is ready to see my milky white legs just yet. In other news, this month my mother Doris will turn 93. But don’t tell anyone. That will be our little secret. 

Grain bins

Market Update

Apr 18, 2022

On March 31st the USDA gave us some surprising acreage numbers. They estimate 2022 corn planted acres at 89.5 million vs 93.4 mil last year and 92 mil estimated by trade experts. Soybeans are estimated at 91 million vs 87 last year and 89 mil estimated by trade experts. This has led to a solid 60+ cent rally in December corn and an initial drop in soybeans followed by a nice recovery to only about 50 cents off the November contract high. Then on April 8th we had a monthly WASDE (supply & demand) report, which was focused on grain stocks on hand, which was in line with expectations. We currently sit at a 1.44 billion bushel corn carryout and a 9.6% stocks/use ratio vs last year’s final number of 8.3%. We see almost identical figures as last year on soybeans of a 260 million bushel carryout (257 million last year) with a 5.8% stocks/use ratio (5.7% last year). However, one difference is at this time last year some were predicting a sub 150 mil soybean carryout. It did not come to fruition, but it did create a lot of concern with domestic users. The market will be primarily trading any headlines surrounding the war in Ukraine, old crop export sales announcements, and U.S. weather in a few weeks. Planting delays are starting to be talked about, but keep in mind how quickly the U.S. farmer is able to plant the majority of their crop. Corn acreage at 89.5 million acres leads to a tight balance sheet and is generally supportive, but be sure to give Premier a call to take advantage of these solid price levels if it makes sense for your operation.  

Propane Delivery

April Energy News

Apr 05, 2022

If you read last month’s newsletter, you’ll recall that I retired from the Army Reserve. This month will be my last newsletter as I have decided to retire from Premier Cooperative to follow my dream and open a new online business. I will be offering items for sale such as cat swimwear, turkey foot back scratchers and chicken goggles. April fools! You’re stuck with me for a few more years. 

Fertilizer-Tender Truck

From the Manager's Desk

Apr 04, 2022

March was a busy month for your cooperative. While the propane division begins to wrap up and wind down another heating season, and the animal nutrition teams operate at a consistent pace year-round, the rest of the company is ramping up for their busiest time of the year. At our 11 full-service agronomy locations, they have been hard at work putting a winter’s worth of planning and preparation into action. The hundreds of hours of product, application, and safety training we attended across the company will soon be brought into play as we partner with our members to get this year’s crop in the ground. We look forward to welcoming back dozens of longtime seasonal staff, and even more new team members as we are just weeks away from the spring agronomy rush. 

Grain bins

March Grain Update

Mar 04, 2022

With the worst of the cold weather behind us, we are one step closer to warm weather and planting season. We have seen strong markets through the crop insurance spring pricing period and some good opportunities for further old and new crop sales. It is an incredibly volatile time, first pushed by South American drought and the Russia-Ukraine conflict has now created shockwaves. Ukraine is a major player in both the wheat and corn export markets which lead to a bullish initial reaction followed by a sharply lower reaction. Uncertainty is widespread in most global markets and grains are no exception.

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From the Manager's Desk

Mar 03, 2022

I always look forward to turning the calendar on the month of February and seeing the first day of spring quickly approaching. The sun seems to shine a bit brighter and longer in the afternoon, and the snow piles get a little smaller each day. What the weather will look like for the month of March remains to be seen, but the decline of COVID, and rolling back of a nearly two-year mask mandate sure gets the month off to a great start. 

Propane Delivery

March Energy News

Mar 03, 2022

By the time you read this month’s article, I will have turned 60 and retired from the Army Reserve. (Apparently they don’t want old guys.) I’ve had a lot of adventures, from sipping beer as a private in West Germany during the Cold War, to fighting insurgents as an infantry platoon sergeant in the Iraq War, and now I’m ending my career training today’s warriors. As I say goodbye to that chapter of my life, I’m by no means closing the book. I’m planning on having many new adventures. Hopefully they won’t make the newspaper or the nightly news. 

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