Thursday, August 21, 2014  

News/Meetings/Events

Attention Farmers/Land Owners:
Cover Crops to Improve Soil in Prevented Planting Fields -
www.nrcs.usda.gov
/Internet/FSE_DOCUMENTS/stelprdb1142714.pdf

Please join us for the annual Customer Appreciation Golf Outing & Supper
When: Tuesday, August 19, 2014
Where: Correctionville Golf Course
Golf Starting @ 1 pm – Supper to Follow @ 5:30
We look forward to seeing you there!
Customer Appreciation Golf Outing and Supper
Thursday August 21, 2014
Onawa Country Club
Golf @ 1:00 pm & Supper 5:00 pm
Cart reservations must be made by August 13th.
RSVP by calling :
Ashlei @ Blencoe 712-433-2490
Jim @ Onawa 712-433-1575
Ean @ Hornick 712-874-3211
Jim @ Sloan 712-428-3331
Please join us for the annual Customer Open House
Wednesday - September 10th
Western Iowa Coop - Mapleton location
Lunch will be served from 11am - 1pm

Hope to see you there
Free Price Later contracts can now be extended to September 26th, 2014.  Western Iowa Coop will extend Free Price Later contracts coming due August 29th to September 26th 2014 at no cost to the producer. Please call your location by August 28th if you are interested in extending your Free Price Later Contact. If not priced by September 26th 2014 the Price Later contract will be rolled forward and charged a minimum charge.

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 Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
BLENCOE Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
ONAWA Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
PIERSON Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
CORRECTIONVILLE Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
WASHTA Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
HORNICK Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
WHITING Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
MAPLETON Delivery Cash   Basis    
 CORN Chart Aug 31, 14    
 SOYBEANS Chart Aug 31, 14    
AGP DIRECT SHIP Delivery Cash   Basis    
 SOYBEANS Chart Aug 31, 14    
Price as of 08/21/14 05:08AM CDT.
Click to view more Grain - Cash Bids

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Did You Know?

In 1892 contagious bovine pleuropneumonia was eradicated


Fact courtesy of the USDA



  August 15, 2014
It’s that time of year again and several area schools are starting a new school year this week.  We would like to take this opportunity to remind everyone to be aware of school bus traffic and young drivers back on the road.  This time of year also means children on foot heading to and from their bus stops. Please be aware, practice a little patience and keep our kids safe and always think “Safety First”.

Grain
Free Price Later contracts can now be extended to September 26th, 2014.  Western Iowa Coop will extend Free Price Later contracts coming due August 29th to September 26th 2014 at no cost to the producer. Please call your location by August 28th if you are interested in extending your Free Price Later Contact. If not priced by September 26th 2014 the Price Later contract will be rolled forward and charged a minimum charge.
 
This week the USDA released their Monthly Supply and Demand Report on Tuesday.  Corn production was estimated at 167.4 bpa which was a little lower than the markets expectation of a 170 bpa yield.  With a 167.4 bpa yield the USDA is estimating over a 14 billion bushel crop, which would be a record.  Carry out was really not changed much but still ample at 1.808 billion bushels.  Old crop bean stocks were left at a workable 140 million bushel number despite a 20 million bushel increase to exports.  The USDA estimated soybean yield at 45.4 bpa which results in a 3.816 billion bushel crop.
 
Overall the USDA report did not show any major market moving numbers.   If the US does not experience an early season frost, the world ending stocks on both corn and beans will be at levels not seen in a few years.   This is not friendly for the grain markets for the short or long term.  Technically both corn and beans are poised for a small rally.  If that does occur the market should see heavy selling of both old crop and new crop grain.  With lack of farmer movement we are starting to see some basis appreciation as end users struggle to find enough grain for their daily grind despite the large old crop inventory’s the government is projecting.
 
Agronomy
Soybean aphid populations have traditionally increased substantially in size during mid to late July and early August. Weekly scouting of soybeans is recommended. Growers should scout five locations for each 20 acres in a field. Also, look for ants or lady beetles on the soybean plant-they are good indicators of the presence of aphids. When aphids are found, estimate the population size per plant. An insecticide application is recommended if the average number of aphids is 250 per plant and the population appears to be increasing in size. Stagnant or declining populations, such as those with parasitic wasps (as indicated by dead aphid mummies), can occur and do not require an immediate insecticide.
Some helpful Soybean Aphid resources from Iowa State University:  http://www.ent.iastate.edu/soybeanaphid/resources
 
Western Iowa Coop has several insecticides that provide a very effective broad spectrum treatment for controlling soybean pests including soybean aphids.  These products not only control soybean aphids present at the time of applications but also provides long-lasting residual control that resists wash-off and breakdown so that aphids will not re-infest treated fields.
 
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
 
PetroleumPetroleum futures plunged across the board Thursday, moving in some cases to numbers that were anticipated for the 4Q of 2014, but not for August. In some cases, numbers are teetering on a technical edge, although there are some traders willing to bottom fish in a complex that may at least be temporarily oversold.  September Brent expired today and last quotes were at $101.95 bbl, more than $13 bbl below June highs.
WTI is also exploring some new ground.  September futures settled at $95.58 bbl, down $2.01 bbl and October closed at $94.08 bbl, down $2.66 bbl. Some of the numbers in the physical market reflect low water marks for more than a year.  Gasoline is the seasonal product with unseasonable selling pressure.  Anyone who thought that Wednesday was a break-out trend changing kind of day for diesel got their come-uppance Thursday.  Diesel was dumped overseas and that selling extended to the U.S. market. September futures settled at the lowest number since May 31, 2013.

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

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