Author

Bill Prince

Bill Prince is your Market Advisor Regional Representative serving members east of the Mississippi River - Alabama, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maine, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia and Wisconsin.


Aug 02, 2022

by Bill Prince

August 2 update During the past several weeks we have experienced the effects of weather on the commodity markets. We are seeing dramatic price swings based on a hot/dry forecast to a cooler/wetter forecast. It’s been a challenging time to plan and market your grain. I was recently speaking to someone who indicated they missed out on making a sale before markets closed for the day; the next day, markets prices had dropped $.50. Bill Prince is your Market Advisor Regional Representative serving members east of the Mississippi River - Alabama, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maine, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia and Wisconsin. Click here to download Bill’s virtual business card Working with FBN Market Advisory provides you with a systematic approach to selling grain. Our brokerage services can assist in making decisions to protect you from falling prices and defend sales already made. We would be happy to discuss your situation if you have questions. Conditions have greatly improved in the Eastern corn belt. In talking with a producer in Indiana, he was looking at a below average corn crop in mid-July. A series of timely rains moved through, and it looks totally different. Soybeans are looking better as well. Plants are growing taller and blooming/setting pods. However, there are pockets of less than stellar conditions and we have a few weeks of development to go. As always, call if you have questions - scan the QR Code above or click the link to download my business card. Below are recent soybean and corn yields estimates from FBN®. Upcoming events Check out these upcoming events in our region.  For more details click here. July 21 Update Traveling to Central Illinois I was surprised at how well the corn crop looked. I expected to see drought-stricken plants and that was not the case, that is not to say moisture isn’t welcome. Yes, it is a tale of two crops as the early planted corn is pollinating and the later planted is a couple weeks behind. Indiana and Ohio have been struggling with a lack of moisture as noted in the crop condition scores. The recent rains have helped but producers I’ve talked with say it isn’t enough. As of this writing, scattered rain is in the forecast through early August.  Soybeans have shown signs of stress as well. Most are hoping that August will bring conditions favorable to development. One producer commented that even though plants are small, there appears to be a good number of nodes. Part of what we do as market advisors/brokers is talking with producers regarding their livestock especially cattle and how they manage the price volatility in the cattle market. FBN Crop insurance agents have Livestock Risk Protection (LRP) policy which is a federally-subsidized insurance program used to lock in a floor price for your cattle and protect against a price decline in the marketplace. Producers need to be flexible and proactive in managing their price risk and LRP offers that opportunity. If you would like to learn more about this product and how to manage your risk, contact your local market advisor who can get you in touch with one of our experienced FBN Crop insurance agents. Hit and miss rains have led to varying drought indications throughout the country. It's no surprise crop health throughout the region is varying so much. The below NASA Grace map provides a great visual of soil moisture inconsistencies throughout the country (white indicated normal soil moistures levels during this time of the year with colors on the red spectrum indicating drought level and blue spectrum indicating elevated soil moisture levels). Source: NASA , https://nasagrace.unl.edu/   FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695 Disclaimer: The views and opinions are solely those of the author as of the date of publication, are subject to change at any time due to market or economic conditions, will not be updated or supplemented after the date hereof and may not necessarily come to pass. The views and opinions expressed herein do not reflect those of all personnel at FBN BR LLC (FBN) or the views of the Farmer's Business Network Inc. as a whole. FBN makes no representations, warranties, or guarantees as to this content. Any charts and graphs provided are for illustrative purposes only. Any performance quoted represents past performance. Past performance does not guarantee future results. All investments involve risks, including the possible loss of principal. Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for everyone. Past performance is not necessarily indicative of future results. All information, publications, and reports, including this specific material, used and distributed by FBN BR LLC shall be construed as a solicitation. The information and data provided comes from sources believed to be reliable but FBN BR LLC does not guarantee its accuracy or completeness.  We are an Equal Opportunity Provider. FBN Crop Insurance services are offered by FBN Insurance LLC (dba FBN Insurance Solutions Services LLC in Texas, and FBN Insurance Solutions LLC in California and Michigan) and are only available where FBN Insurance LLC is licensed. FBN membership is not required to purchase through FBN Insurance LLC, but certain features are only available to FBN members. FBN Crop Insurance is currently offered in all U.S. states except MA and the District of Columbia. Copyright © 2014-2022 Farmer's Business Network, Inc. The sprout logo, "Farmers Business Network," "FBN," and "Farmers First" are registered trademarks of Farmer's Business Network, Inc. All other trademarks are the property of their respective owners.


Article Grain Marketing

July 2022 Market Briefing: Region 2

Jul 05, 2022

by Bill Prince

Greetings from the Eastern corn belt! The heat we received early in the season has plants up and growing. However, irrigators have been running, where available, as Indiana and Ohio have been dry. Signs of stress are visible, and farmers are saying corn is rolling up and needs moisture. Producers are concerned about what this might do to beginning ear development prior to pollination. The later planting start may push pollination back a week or two allowing for moisture to develop. Higher temperatures can also allow for greater possibility of pests and disease. Crop conditions Condition scores for 6/27/22 showed an 11% decline in GTE for Indiana, a 9% decline in Ohio, and a 24% decline in Kentucky. The national average is 67% GTE better than 64% last year, on a crop we thought looked pretty good. We will continue to monitor weather patterns and keep you posted in our communications. The good news is spot basis is still strong. If you see a fall basis that looks average or above, it may be a good idea to take a little risk off the table. Hats off to Kevin McNew, Chief Economist at FBN®, and his team for their excellent work and analysis on the acreage report . The results were directionally in line with the USDA numbers. Thanks to all of you who participated, as the data is from you and the results are for you. Upcoming events Check out these upcoming events in our region. For more details click here. FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695 Disclaimer: The views and opinions are solely those of the author as of the date of publication, are subject to change at any time due to market or economic conditions, will not be updated or supplemented after the date hereof and may not necessarily come to pass. The views and opinions expressed herein do not reflect those of all personnel at FBN BR LLC (FBN) or the views of the Farmer's Business Network Inc. as a whole. FBN makes no representations, warranties, or guarantees as to this content. Any charts and graphs provided are for illustrative purposes only. Any performance quoted represents past performance. Past performance does not guarantee future results. All investments involve risks, including the possible loss of principal. Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for everyone. Past performance is not necessarily indicative of future results. All information, publications, and reports, including this specific material, used and distributed by FBN BR LLC shall be construed as a solicitation. The information and data provided comes from sources believed to be reliable but FBN BR LLC does not guarantee its accuracy or completeness.  Copyright © 2014-2022 Farmer's Business Network, Inc. The sprout logo, "Farmers Business Network," "FBN," and "Farmers First" are registered trademarks of Farmer's Business Network, Inc. All other trademarks are the property of their respective owners.


May 31, 2022

by Bill Prince

Introducing Bill Prince - Market Advisor Regional Representative covering the Great Lakes Region I’ve been working with FBN since 2017. Prior to FBN I worked with Cargill as a Market Advisor helping keep customers informed of the issues driving the markets and incorporating details of their farming operations into actionable suggestions to help them make risk management decisions. Understanding your business and how you like to operate is key to a successful relationship. May brief The cold wet start to the Spring planting season has turned around the past couple of weeks. After many long days, much progress has been made with completion in sight. Some areas of Ohio and Michigan are still experiencing high moisture and it is causing delays. The National Weather Service is calling for warmer than average temps, except for MN, ND & MT. Precipitation looks to be dry in the western corn belt and more normal in the Great Lakes Region. Spot basis is strong and If you want to talk about your farm and how it’s being impacted by market dynamics, call or shoot me a text at 317-606-3963 . Or email me . FBN Market Advisory services is offered by FBN BR LLC - NFA ID: 0508695.   Disclaimer: Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for all investors. Past performance is not necessarily indicative of future results. All information, publications, and reports, including this specific material, used and distributed by FBN BR LLC shall be construed as a solicitation. FBN BR LLC does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. Copyright © 2014-2022 Farmer's Business Network, Inc. "Farmers Business Network," "FBN," and "Farmers First" are registered trademarks of Farmer's Business Network, Inc. All other trademarks are the property of their respective owners.