Thursday, April 17, 2014  

News/Meetings/Events

FREE PRICE LATER ON GRAIN
Starting February 10th, 2014 Free Price Later on Corn and Soybeans will be offered at ALL Western Iowa Coop locations on grain delivered on or after February 10th, 2014 until Friday August 29th, 2014 subject to change on space availability without prior notice. Please Call the elevator prior to delivery to ensure space availability !!! 

On Tuesday September 2nd, all Price Later Grain will be rolled to the Fall 2014 Harvest Policies and charges will be applied

*Price Later grain cannot be put on a warehouse receipt or grain bank once it is placed into a price later contact* 
*Any grain under CCC Loan cannot be put into a Price Later contract*


PLEASE NOTE:  EFFECTIVE IMMEDIATELY THE BLENCOE LOCATION PHONE NUMBERS HAVE BEEN CHANGED
MAIN PHONE LINE:  
1-712-433-2490


WESTERN IOWA COOP GRAIN BUYING HOURS ARE:

Monday thru Thursday 8:30 AM until 5:00 PM
 
Friday 8:30 AM until 1:15 PM then no buying until Monday at 8:30 AM


Has your email address changed lately or will you be changing carriers?  Be sure to call the office and let us know so there is no interuptions in news letter or cash bid receipts.

Cash bids delayed a minimum 10 minutes.  Western Iowa Coop does not buy grain based of the website prices.  Please call a location for current prices.


Local Cash Bids
SLOAN Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
BLENCOE Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
ONAWA Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
PIERSON Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
CORRECTIONVILLE Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
WASHTA Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
HORNICK Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
WHITING Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
MAPLETON Delivery Cash   Basis    
 CORN Chart Apr 30, 14    
 SOYBEANS Chart Apr 30, 14    
AGP DIRECT SHIP Delivery Cash   Basis    
 SOYBEANS Chart Apr 30, 14    
Price as of 04/17/14 01:59AM CDT.
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Did You Know?

In 1825 the Agriculture Committee in the U.S. Senate was established


Fact courtesy of the USDA



  April 11, 2014

It’s been a long cold winter but it’s actually looking like we have some spring-like weather in the forecast. Although the weather is slowly starting to improve it does have a ways to go.  As of late this week we’ve still had some reports of frost in the ground in some of the lower profile areas.  A good warm rain would certainly help pull that frost out of the ground.  The concern now is that with the air temperature starting to warm up farmers might find themselves getting a little over anxious to get to the field to early and risk soil compaction problems that could  likely lead to root system issues later on.   Our best advice right now would be patience which for some of you is difficult considering the struggles of the 2013 growing season.  As machinery starts emerging for the machine sheds so does the excitement for longer days, warmer weather and hopefully a less eventful spring than last season’s was. Let us remind you to always“Think Safety First” and make this another safe and prosperous crop season to look forward to.
 
Grain
The start of the week for grains were mixed, having pressure from outside markets and getting support in fund and commercial buying, as all eyes were on the USDA’s Supply and Demand report that came out Wednesday morning. In the report the USDA slashed ending stocks for both corn and beans. They trimmed corn ending stocks by 125 mb and increased its forecast for U.S. exports by the same number.  With higher world demand, U.S. corn exports sales in March stayed strong. On the bean side, analysts were expecting the bean ending stocks to be around 139 mb and came pretty close as the beans ending stocks fell to 135 mb, a 10 mb cut from last month. Bean exports increased to 1.58 billion based off record year-to-date shipments and large outstanding sales. Bean prices are expected to stay strong into June, unless we see more Chinese cancellations due to the Chinese buyer not able to obtain lines of credit, combined with ongoing negative crush margins in China. Overview of Wednesday markets were higher pre-report, then a short rally off the bullish ending stocks, and then lower the remainder of the day. Grains were lower Thursday following the USDA export sales report. Trading now puts the focus clearly to weather and planting progress/production. Forecasts have a big system moving across the Midwest in the next 5 days, then a cool off. The 6/10 day looks to be cool and dry. This should allow for some adequate planting the week after Easter. The next set of supply and demand numbers are due out May 9th. Look for market activity to remain quite volatile as weather trends both here and overseas (Ukraine) are monitored closely.
 
Agronomy
It’s been a long winter and although Spring has officially arrived field conditions have not been suitable for most to do a lot of field work yet.  Some Spring anhydrous activity has begun but there are always questions about other Nitrogen (N) fertilizer options. One of the usual questions is “Should we take the time to get Nitrogen (N) applied now or wait until I get the corn planted and then apply later”.  If preplant applications can be made without a delay in planting, then go ahead and make the applications now. If decisions are made to plant corn and then apply Nitrogen (N) sidedress, be certain to check that needed fertilizer products and application equipment will be available. Sidedress applied nitrogen rates can be adjusted from late spring soil test results with rate of adjustment based on the measured nitrate concentrations. If attempts to get Nitrogen (N) applied preplant or early sidedress have failed then mid-to-late vegetative stage application can be a helpful rescue.  We encourage you to read this complete article from Iowa State University.  Read More: Compressed Spring Workload in 2014? What are Nitrogen Application Options? http://www.extension.iastate.edu/CropNews/2014/0401sawyer.htm
 
Feel free to stop by any of your Western Iowa Coop offices and visit with your location agronomist and let them help you with all of our 2014 crop management concerns
 
You’re 2014 Agronomy Staffhttp://www.westerniowacoop.com/index.cfm?show=10&mid=44&pid=3
 
Petroleum
Farmers: The busy spring season is quickly approaching. Just a reminder please get your fuel orders in on a timely manner so that we can keep everyone moving this spring.

Markets ended the week mixed with no huge gains or losses seen as trader opinions continue to weigh in on ongoing tensions in Ukraine and the demanding season starting to heat up for both Gas and Distillate.  No major news at this point to help swing the market one direction or the other.

Click on “This Week in Energy” for more current energy news.  http://www.eia.gov/oog/info/twip/twip.asp

Be sure to click on the “Petroleum News” section of our web page for current petroleum prices and the NEW addition of daily futures contract prices.
 
 

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