Thursday, April 24, 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 04/24/14 10:42PM CDT.
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Did You Know?

In 1856 the 2-horse straddle-row cultivator was patented


Fact courtesy of the USDA


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  April 18, 2014

Easter Greetings to you and your family from all of us at Western Iowa Coop
 
SPRING HAS ARRIVED! Although the weather conditions and temperatures this week leave much to be desired there are a few positive signs that a new season of spring activities are just around the corner. Be patient, make a few more preparations and once the weather warms up and fieldwork begins again we encourage everyone to always “Think Safety First” and make this another safe and prosperous crop season to look forward to. 
 
Grain
REMINDER: We will not be buying grain from 1:15pm Thursday till Monday at 8:30am for the Easter holiday.
 
As of Sunday the national corn planting progress was at 3%, compared to 2% last year and 6% on average. Winter weather experienced throughout the cornbelt Sunday, put a halt on any field work for most of the week. It’s still a little early to get too concerned and longer term forecasts outlooks are favorable to planting. Fears of the HRW crop and more concerns sprouting in the Ukraine seem to have been the focus for much of the corn market. The potential crop problems with wheat are relevant to corn in that less wheat feeding should occur this summer in favor of corn & milo. May corn has been teetering around the key $5 area, with improving planting weather putting pressure on the futures. It has been an exciting week for soybeans, and for the old crop/new crop spreads in the particular; the monthly NOPA crush report on Tuesday came out with much larger than expected and, in fact, set a new record for March at 153.84 mb. Beans were strong all week with Wednesday nights bean trade scoring a new high on the overnight session, which put the bean price near $1.00 below the high set a year ago at $16.30. South American bean basis continues under pressure with Chinese cancellations and combined with strong South American farmer sales. Thursday grains closed mixed as we head into the Easter holiday weekend, cash corn and beans were slightly lower with a light favorable bias toward better spring weather next week. The Western Iowa Coop grain department wishes everyone a Blessed Easter weekend!!!
 
Agronomy
Where is our spring?  Although the rain and snow this week is a nice addition to much needed moisture it’s made for some impatient farmers.  We are still in good shape as far as getting planting underway as the optimum window for planting can vary for any given year depending on the weather. The point being that one year May 15-18 may be a much better planting date than April 15-18 and another year April 25-30 may be the better choice.  Farmers need to be patient and not work the ground when the soil at point of tillage implement depth is still wet.  Likewise they need to not plant when the soil is still wet in the top 4 inches. It is important to just wait with tillage or planting until the soil is fit for field work.  Below is a table from ISU’s Corn Planting Guide titled “Corn yield response to planting date.”
 
Date                       Relative yield potential (percent)
April 20–May 5                    100            
May 13–19                              99
May 26–June 1                       90
June 10–16                             68
June 24–28                             52
* Average of three locations (Nashua, Ames, and Lewis) and three years (1998-2000).
 
Corn yields do not begin to decline rapidly until planting is delayed beyond mid-May.  Corn hybrids used today appear to have more yield stability over time in the early part of the season but when planting is delayed until late May it is advised to choose a hybrid characterized as earlier than “full season” especially in northern Iowa.  A rule of thumb for changing hybrid maturities is if planting is delayed until May 25, select a hybrid that matures five days earlier than an adapted full season hybrid for this area. If planting is delayed beyond this select a hybrid that matures another 5 days earlier than the previous one. Generally speaking the later the planting date the earlier the seed maturity dates.
 
Be sure to click on the “Agronomy News” section of the web page for more newsworthy articles
 
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.
 
Outlook – By the numbers, Wednesday’s inventory report was bearish crude oil, slightly bearish gasoline and bullish diesel.  The market’s reaction was subdued with diesel seeing a gain of only 2 ¼ cents and crude oil actually closed the pit session up a penny.  I would describe today’s trading as stale.  Thursday’s trade could be interesting with a rare three-day weekend in front of us.  Will we see Ukraine risk premium build into the weekend or will we trade today’s bearish crude oil stocks number?  With the rally we have seen in diesel this week; we could be looking at the possibility of a sharp decline.
 
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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