Grain Marketing


08 Nov 2022

by Rejeana Gvillo

[FBN Members: Click here to access the November 2022 U.S. Corn & Soybean Yield Forecasts Report ] [Not an FBN member yet? Click the link above and create a free FBN account to unlock the report.] On October 12, 2022, the USDA released their most recent Crop Production report. Based on initial survey-based U.S. corn and soybean yields, their results forecast U.S. corn yield to be 171.9 bushels and 49.8 bushels for soybeans. FBN®’s forecast was higher at 173 bushels per acre for corn but slightly lower for soybean bushels at 49.7.  This is down compared to 2021 yields of 177.0 bushels of corn 51.4 bushels of soybeans.  The USDA’s next report is slated for November 9, 2022 and will be the final report for the calendar year with next year’s yield estimates to be released on January 12, 2023.  Will yield increase or decrease compared to last month’s estimations? Click here to unlock the FBN Research team’s predictions in our latest report, free for FBN members .  [Not an FBN member yet? Click the link and create a new member account to access the report.] FBN® yield forecasting The FBN Research team has been processing and analyzing data since the combines started rolling this season. We have collected 3,816 farm yield observations for corn and 1,954 for soybeans. We anticipate that data collection is close to or slightly above the halfway mark.  In our latest report, FBN will continue to predict both U.S. corn and soybean yield ahead of USDA’s report. We will also look at how FBN’s forecasts have historically presented low yield errors compared to other published predictions.  Unlock the Report Find out more by signing up to become an FBN member and downloading the November 2022 U.S. Corn & Soybean Yield Forecasts Report. By becoming an FBN member , you'll join a global network of farmers — 48,000+ strong and growing — who are already taking advantage of the opportunity to reduce their production costs and maximize the value of their crops.  You’ll also have access to unique insight from experts in the latest FBN Research publication for free in the Reports section of the FBN app. FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695 Disclaimer : Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for all investors.  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. Past performance is not necessarily indicative of future results.  FBN makes no representations, warranties, or guarantees as to this content. Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "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.


25 Oct 2022

by FBN Network

As the war in Russia-Ukraine continues to rage after six long months, agriculture and grain markets across the globe have been massively disrupted. As commodity prices, grain exports, fertilizer exports and energy prices rise, it has quickly become a concern for farmers around the world.  [How will the conflict affect growers in North America and around the world? Unlock the free report today.] When we released the FBN® Special Report: State of Agriculture 2022 , we found that exports from Russia-Ukraine were estimated at a valuation of $13.8 billion. Here’s how those exports broke down for 2021 29% of global wheat exports 32% of barley exports 19% of rapeseed exports 17% of corn exports For this report, our experts have analyzed and collected data over the past six months of war between Russia and Ukraine. Taking this data into account, the report will look at the impacts on agricultural trade, markets and global food security. Farmer summary Grain exports from Ukraine and Russia remain well off historical norms, impacting some of the world’s poorest countries, though shipments have improved. Ukraine’s harvest slipped versus last year’s record, but Russia has a massive crop. Disruptions to fall seeding (for winter wheat, barley and rapeseed) are inevitable — especially for Ukraine — raising concerns about harvest potential for 2023. High input prices still exist today with limited hope of a major break in the future. Grain futures have continued their volatile movements, with the slightest developments on the trade and production fronts in the Black Sea sparking sharp swings in prices. [Learn more about the agricultural impacts of the Russian-Ukrainian war in our recent FBN Research report. Unlock the free report today.] What it means for the farmer U.S. producers have and will likely continue to see high input prices into the 2023 planting season. While fertilizer prices have eased, it’s unlikely to see a return to pre-fall 2021 prices. But the good news is feed grain prices may be stable for a while.  And while U.S. commodities are not attractively priced for importing countries to pay premiums for American wheat, corn and soybeans, that is expected to ease as the U.S. harvest season progresses and buyers return to the U.S. market.  Unlock the free report Get insights from FBN experts in the latest FBN Research publication. Get your free copy today .  Members can access this report and more in the Reports section of the FBN app. FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695 Disclaimer : Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for all investors.  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. Past performance is not necessarily indicative of future results.  FBN makes no representations, warranties, or guarantees as to this content. Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "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.


06 Oct 2022

by Rejeana Gvillo

[FBN Members: Click here to access the October 2022 U.S. Corn & Soybean Yield Forecasts Report ] [Not an FBN member yet? Click the link above and create a free FBN account to unlock the report.] On September 12, 2022, the USDA released their most recent Crop Production report. Based on initial survey-based U.S. corn and soybean yields, their results forecast U.S. corn yield to be 172.5 bushels and 50.5 bushels for soybeans. This is down compared to 2021 yields of 177.0 bushels of corn 51.4 bushels of soybeans.  FBN®’s model-based yield forecast for U.S. corn and soybeans published in September was at a more conservative 169.5 bushels for corn and 50.6 for soybeans.  With widespread losses in Texas, Kansas and Nebraska, only Illinois is showing substantially better than expected yields so far. Corn yield observations from FBN members show few signs that USDA corn yields will need to be adjusted higher in coming reports Ahead of the USDA’s next report, which will be released on October 12, 2022, FBN is once again looking at its own models to forecast corn and soybean yield.  Will yield increase or decrease compared to last month’s estimations? Click here to unlock the FBN Research team’s predictions in our latest report, free for FBN members . [Not an FBN member yet? Click the link and create a new member account to access the report.] FBN® yield forecasting As the 2022 crop season comes to an end, FBN’s model-based yield estimate will shift to actual field observations as more data comes in from members.  In our latest report, FBN will continue to predict both U.S. corn and soybean yield ahead of USDA’s report. We will also look at how FBN’s forecasts have historically presented low yield errors compared to other published predictions.  Unlock the report Find out more by signing up to become an FBN member and downloading the October 2022 U.S. Corn & Soybean Yield Forecasts Report. By becoming an FBN member , you'll join a global network of farmers — 43,000+ strong and growing — who are already taking advantage of the opportunity to reduce their production costs and maximize the value of their crops.  You’ll also have access to unique insight from experts in the latest FBN Research publication for free in the Reports section of the FBN app. FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory - NFA ID: 0508695 Disclaimer : Commodity trading, including futures, hedging and speculating, involves substantial risk of loss and may not be suitable for all investors.  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. Past performance is not necessarily indicative of future results.  FBN makes no representations, warranties, or guarantees as to this content. Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "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.


06 Sept 2022

by Kevin McNew

[FBN Members: Click here to access the September 2022 U.S. Corn & Soybean Yield Forecasts Report ] [Not an FBN member yet? Click the link above and create a free FBN account to unlock the report.] The USDA released their most recent Crop Production report on August 12, 2022, based on initial survey-based U.S. corn and soybean yields. Their results forecast U.S. corn yield to be 175.4 bushels and 51.9 bushels for soybeans (1).  However, based on futures values and some trade estimates, market sentiment is that the USDA’s August corn yield estimate is too large.  FBN®’s model-based yield forecast for U.S. corn and soybeans published in August was at a more conservative 170.0 bushels for corn and 50.7 for soybeans. Yields in Iowa and Nebraska are expected to be significantly below the strong yields seen in 2021. Ahead of the USDA’s next report, which will be released on September 12, 2022, FBN is once again looking at its own models to forecast corn and soybean yield.  Will yield increase or decrease compared to last month’s estimations? Click here to unlock the FBN Research team’s predictions in our latest report, free for FBN members . [Not an FBN member yet? Click the link and create a new member account to access the report.] FBN yield forecasting FBN has produced corn and soybean yield forecasts at the national, state and county levels since 2019. Having seen success in predicting yields relative to others in the industry, our empirical yield models are continuously updated with new information throughout the growing season based on: Growing conditions Crop development and health Weather readings and satellite imagery As the season progresses from late June to early October, the models generate yield predictions as new data and information becomes available.  Analyzing FBN’s success In our latest report, FBN will continue to predict both U.S. corn and soybean yield ahead of USDA’s report. But we will also look at how FBN’s forecasts have historically presented low yield errors compared to other published predictions.  Unlock the report Find out more by signing up to become an FBN member and downloading the September 2022 U.S. Corn & Soybean Yield Forecasts Report. By becoming an FBN member , you'll join a global network of farmers — 43,000+ strong and growing — who are already taking advantage of the opportunity to reduce their production costs and maximize the value of their crops.  You’ll also have access to unique insight from experts in the latest FBN Research publication for free in the Reports section of the FBN app. Source: 1. USDA Crop Production Report, August 12, 2022 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. Commodity trading involves risks, including the possible loss of principal. Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "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.


11 Aug 2022

by Kevin McNew

The 2022 growing season has seen U.S. farmers facing many critical challenges with late planting, record-setting heat, persistent drought and regionalized flooding. The result has led to sub-par growing conditions in many key growing regions.  USDA will release their first survey on U.S. corn and soybean yield potential in their Crop Production report on August 12, 2022.  Since 2019, FBN® has been closely monitoring state and county corn and soybean yield forecasts. And with the USDA set to release their first survey on U.S. corn and soybean yield potential, what does FBN forecast? FBN’s forecast for corn and soybean yield potential According to a survey of analysts, on average they expect the U.S. corn yield to be 175.9 bushels per acre, and soybeans are pegged at 51.1 bushels per acre. (1) In 2021, U.S. corn yields were record high at 177.0 bushels per acre, and the U.S. soybean yield in 2021 was 51.4. For the 2022 crop cycle, FBN’s corn and soybean yield forecasts have been declining in tandem with deteriorating crop conditions as reported by USDA. (2) Drought and extreme heat have been a persistent problem over the Southern and Central Plains this growing season, and at times brought unfavorable growing conditions into Western Iowa, Eastern South Dakota and Southern Minnesota.  Weather forecasts for the balance of August show heat and dryness likely to remain, which will challenge crop yield potential in these key growing areas. What this means for the crop year The margin of error for corn and soybean yield forecasts should decline among firms as harvest season approaches. This has been a crop year that continues to have problems pop up - hot and dry weather, significantly delayed planting, localized flooding. Regardless of USDA’s Friday yields, we expect the final corn yield to fall short of the current expectations by the market. Become a member today Become an FBN member today and join a global network of farmers — 43,000+ strong and growing — who are already taking advantage of the opportunity to reduce their cost of production and maximize the value of their crops.  As an FBN member, get insight from experts in the latest FBN Research publication for free in the Reports section of the FBN app. Sources: Survey conducted by Reuters and released on August 8, 2022. USDA Crop Progress reports for 2022 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. Commodity trading involves risks, including the possible loss of principal. Copyright © 2014-2022 Farmer's Business Network, Inc. All rights Reserved. "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.


02 Aug 2022

by Diana DeHart

August 2 update Much needed rains fell across portions of the region over the past two weeks, although the rains were widely scattered.  Extremely hot temperatures enveloped most of the region as well, stressing thirsty crops. Diana DeHart is your Market Advisor Regional Representative serving members in the Western Farm Belt, West and Southwestern United States - Arizona, Arkansas, California, Colorado, Iowa, Kansas, Louisiana, Missouri, Nebraska, Nevada, New Mexico, Oklahoma, Texas and Utah. Click here to download Diana’s virtual business card. On July 24 I traveled from KC, MO north to St. Paul, MN via I-35. Crop conditions looked relatively good along the way, with a few small pockets of slight dryness in several counties near south/central Iowa. Temps along this route were warm, but not excessive, and crops were green and making up for lost time from late plantings.  I traveled from KC, MO to Ft. Smith, AR on July 29; from there, on to College Station, TX. Conditions got visibly dryer as I traveled south of KC into northern AR. Many of the cattlemen in Western Arkansas have begun liquidating their herds as dryness has increased recently. There were some scattered showers in the western parts of Arkansas and eastern Texas this past weekend, but nothing widespread or significant enough to relieve drought issues.  This week I am attending the Texas A&M Beef Short Course in College Station. The biggest topic of the  program was the drought and how to manage the operation in spite of it, along with higher input costs. Weather outlooks do not look promising, according to some meteorologists, and their view of an intact La Niña system. If you haven’t explored what PRF (Pasture, Range & Forage) or LRP (Livestock Risk Protection) can do for you and your livestock operation, please give one of our Insurance Agents a call.  Learn how these government subsidized programs, or utilizing a brokerage account for hedging, can help protect your bottom line and your operation. 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  Wheat harvest is wrapping up in most areas in my region and, for the most part, quality has been very good for both Hard and Soft Wheat this year. Yields have varied depending on location. Soft wheat areas have seen average to slightly above average yields while Hard wheat areas were all mostly below average yields with some fields a total loss due to drought conditions.   Corn and soybean conditions are a mixed bag in this region as well. Crops in most of Iowa, parts of Nebraska and Northwest Missouri look really good. Although slightly behind average, they have had good amounts of moisture and plenty of GDUs that have helped the crops gain in maturity given some of the late planting dates. Conditions deteriorate as we move south and west, however. Even in Missouri where NW MO crops look great, we only have to travel a few hours east or south to find drought-stressed crops in need of a drink and some cooler temps.  Traveling south and west through Kansas we see the same situation, dryland crops under stress (dead in some areas) and even irrigated crops struggling to keep up with the 100+ degree days and too warm of temps at night. Currently the grain market is taking the attitude that the “I” states are improving enough that they will offset losses from states like Missouri, Kansas, Oklahoma and Texas. Time will tell if that is the case, but many years we won’t see the market accept anything below the USDA estimated yield until after the harvest is in the bins and the bin doors are shut in the fall.   The drought in parts of this region is not only impacting crop production, but also livestock production. As the southwest is salvaging severely drought stricken corn where possible for forage/feed use, we have seen a great number of cattle sold this summer due to lack of grass/feed. Part of what we do as market advisors/brokers is talk with producers regarding their livestock, especially cattle, and how they manage price volatility in the cattle market. In addition to, or instead of using futures and options, FBN can work with livestock growers to protect prices using the Livestock Risk Protection (LRP) policy. This 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 flexibility while being proactive in managing their price risk and LRP offers that opportunity. FBN has Crop Insurance agents licensed to write LRP policies. 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/   Upcoming events Check out these upcoming events in our region.  For more details click here. Oklahoma Cattlemen's Association - Norman, OK, July 22-23 Arkansas Cattlemen's Association - Hot Springs, AR, July 28-30 Texas A&M Beef Short Course - College Station, TX, August 1-3 Coming County Fair (stop by our booth!) - West Point, NE, August 11-14 Community Builder events in the following locations: Fort Dodge, IA, July 12 Huxley, IA, July 13 Keystone, IA, July 14 Anita, IA, July 19 Independence, IA, July 20 Monticello, IA, July 28 Perry, IA, August 4 Marshalltown, IA, August 9 Grinnell, IA, August 10 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.


02 Aug 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.


29 July 2022

by Nicole Tonak

July 29 update Grain markets had a nice finish to July month end, recovering losses built into the markets earlier in the month. As it has been discussed previously, weather markets are very unpredictable and that’s what we saw the last couple weeks. Going forward, the weather forecast for the first 10 days of August shows the heat dome coming back and bringing above normal temperatures with little/no rain for Central IL, most of IA, Southern MN and into SD. This could be critical especially in the Dakotas/parts of MN as the corn has moved into the pollination stage. Agronomists consider 86° the optimum temperature for corn and soybean growth. Nicole Tonak is an FBN Market Advisor Regional Representative serving members in parts of the Upper Midwest through the Pacific Northwest - Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington and Wyoming. Click here to download Nicole’s virtual business card. Temperatures above 86° have the potential to reduce yields, and forecasts are calling for triple digits over the next week. Therefore, I am questioning if we will be able to sustain current yield forecasts of 170 on corn and 50 for beans. I want to voice a note of caution here though in chasing this rally. If (...when?) rain enters the forecast, we should expect a sharp correction from these levels we have appreciated. Export demand has been weak and could leave longs exposed to a significant use reduction in the August WASDE. The first shipment of grain from the Ukrainian Black Sea Port was set to take place at the end of July. A couple things to note here are vessels already loaded will be first to move. These vessels have been loaded and sitting in the port for some time and there is question as to grain quality once exported. Second issue is the discussion as to where the “safe channel” will be. Finding a safe passage is concerning as they will not be de-mining passage to/from the ports as it was thought to be too time consuming, potentially taking up to 4 months to do it properly. On the “Home Front,” corn seems to have made considerable gains from the late plant and those areas that have caught some very timely rains are looking pretty good. Soybeans are still behind but hanging in there. The next couple of weeks will tell a story of how well these row crops can sustain with little moisture to be had. Small grain harvest has started in a few areas of the region and will be going full force shortly. I do not have any local yield or protein data yet to share, but I would love to hear from you and how things are going on your farm. To ask a question or shoot me a message/picture of your harvest progress, use the above link to view my contact information. You can also reach me at 605-221-8296. 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 In the Upper Midwest, compared to corn and beans the wheat crop is doing well during this warm growing season; and seems to be on track for the most part, maybe a little behind, but looking good. Corn is improving, aside from a few pockets in SE South Dakota/SE North Dakota and parts of MN that have missed out on timely rains. Those areas in MN are starting to see the corn roll and will need moisture soon. Soybeans are struggling the most and are slow to catch up. Although plants are small, the overall bean crop will be about average as things look today.Western MT caught a rain this past weekend, helping crop production there. The moisture was a welcome addition and should help achieve near average yields for the area. Switching gears to Feed, the Alfalfa crop looks good. Second cuttings are underway or done, and if we are blessed with timely rain over the next 30 days, we could see third ,maybe even 4th, cuttings in prime areas yet this season. Another point worth mentioning is that ditch cutting is underway. This grass cutting is pushing the grasshoppers into fields, in the more drought-stricken pockets throughout the Region. Talking with fellow colleagues on FBN Direct, this is worth mentioning and reminding producers to be checking fields for possible insect damage. As an FBN Market Advisor/Broker, when working with our customers, we not only discuss the commodities market but also the price volatility in the livestock markets, especially cattle. In addition to, or instead of using futures and options, FBN can work with livestock growers to protect prices using the Livestock Risk Protection (LRP) policy. This 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 flexibility while being 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.


14 July 2022

by FBN Network

We’re excited to be welcoming new members coming to FBN® from Western Plains Energy, LLC (WPE). We’ve been working with farmers and their data since 2014, and we know you care about how your data is used and shared -- and we take your privacy seriously. We appreciate that you are considering trusting us with your data and protecting that information is an important part of how we conduct our business. For more information on our information practices, including the kinds of information we may collect, how we protect that information, how we use and share that information, please visit our Privacy Policy . Below are some FAQs we’ve put together that will help you better understand some questions you probably have right now, as well as some you may have as you begin to use the app. WPE & FBN FAQs How do I get access to my WPE sales data in the FBN app? Do I need to create an FBN Account to access my WPE data in the app? How does FBN use my data? Can WPE access the data I add to my FBN account? Who can I talk to if I have questions? Feature FAQs My Sales Contracts Where can I see my WPE contracts? What can I do if I don’t see all of my WPE contracts in my FBN account? How can I see how many bushels are left to deliver on a contract? Tickets Where do I go to see my scale tickets? How do I see what specific tickets were applied to a contract? Settlements Where can I see my settlements? Bids Where do I go to see WPE bids? How can I favorite my preferred delivery locations? How can I set a Price Alert? Where can I find basis charts? WPE & FBN Data FAQs How do I get access to my WPE sales data in the FBN app? Go to the WPE landing page in the FBN App and follow the prompts. This is a special process only available for WPE growers. So please follow these three steps to successfully connect your WPE sales data to the app. Enter the mobile phone number used for your WPE account and you’ll be sent a text message with a special link. This link is crucial for initiating a step-by-step FBN account setup. Click the link in the text you’ll receive and install the FBN app. When you first open the app, you’ll see a special page for WPE customers. Click “Connect with WPE” and that will initiate the connection of your WPE sales data to your FBN account. Do I need to create an FBN account to view my WPE sales data in the app? Yes. If you would like to view your WPE sales data through the FBN App, you’ll need to follow the steps above to get started with the FBN App. FBN membership is free, and you are not obligated to buy anything from FBN or contribute any other data. What is the value of becoming an FBN Member? The FBN Network was launched in 2014 by a handful of farmers as an independent, unbiased and objective farmer-driven information source. By providing  data to FBN , farmers gain access to the FBN Network, an anonymized and aggregated data analytics platform that enables farmers to make better decisions on their farms. Today, FBN is a continually growing network of over 43,000 farmers using 100% anonymous data-sharing & unbiased benchmarking to gain valuable and trustworthy insights on virtually all aspects of their farm operations including, optimal farm practices, seed performance, inputs pricing and commodity markets. The FBN Network also provides business specific tools that allow farmers to put their own data to use in managing their business operations. How does FBN use my data? FBN uses your data for the following purposes which are required to provide you with the benefits of the FBN Network, including but not limited to: Creating your FBN account Providing you with FBN Network features, such as access to the Crop Marketing platform where you can view bids and submit offers to WPE, view your contracts & scale tickets, eSign contracts, have daily access to market intelligence reports, and manage your production data while viewing additional at-a-glance details like target breakeven and percent contracted & available. Providing operational and technical support, including improving or enhancing our products and services to you Communicating with you, such as sending you electronic notifications regarding your grain bid and offers, and for marketing purposes such as offering products and services to you in accordance with applicable law. Conducting research and analytics that help our FBN Members make better decisions on their farms Complying with our legal and regulatory requirements Protecting the rights, property, safety or security of the FBN Network, our FBN Members, employees or others and prevent fraud or illegal activity Enforcing or applying our Terms of Service . Can WPE access the data I add to my FBN account? No. FBN does not and will not share data you add to your account with third parties, including WPE. WPE can only see the offers you submit directly to the WPE merchandising team. In that case, your Merchandiser would see the offer you submitted. Who can I talk to if I have questions? Feel free to reach out to either FBN or WPE with any questions you may have. If you have questions about the app or need help getting started, reach out to FBN s Success Team for WPE Growers. Dahn Clemens | p: (605) 307-9914 | dclemens@farmersbusinessnetwork.com Tory Johnson | p: (605) 307-9914 | tjohnson@farmersbusinessnetwork.com If your questions are specific to WPE or your WPE account, please reach out to: Greg Doll | p: (785) 672-7079 | gdoll@wpellc.com Feature FAQs My Sales After you open the app, to view your WPE sales data simply tap on the Market icon at the bottom of the app, and then tap My Sales at the top of the Market screen. Contracts Where can I see my WPE contracts? Tap on the Market icon at the bottom of the app, and then tap on My Sales at the top of the Market screen. My Sales will open and you will just need to make certain the dropdown menu is displaying Contracts to view all of your imported WPE contracts. What can I do if I don’t see all of my WPE contracts in my FBN account? Sometimes, contract information does not refresh automatically. On the My Sales tab, change the “All” filter to something else and then change it back to “All” which will refresh the information being displayed. How can I see how many bushels are left to deliver on a contract? Scroll through your contracts and find the one you have delivery questions about. Tap on it, and it will display details of the contract including total contracted volume, delivery period, and bushels remaining. Tickets Where do I go to see my scale tickets? Tap on the Market icon at the bottom of the app, and then tap on My Sales at the top of the Market screen. My Sales will open and you will just need to make certain the dropdown menu is displaying Tickets to view all of your imported WPE scale tickets. How do I see what specific tickets were applied to a contract? Scroll through your contracts and find the one you have questions about. Tap on it, and it will open and display details of the contract including. Scroll down to the end of the contract and you will see the tickets section which will list the tickets that have been applied to the contract. You can also tap on the ticket to view the specific details of that delivery. Settlements Where can I see my settlements Tap on the Market icon at the bottom of the app, and then tap on My Sales at the top of the Market screen. My Sales will open and you will just need to make certain the dropdown menu is displaying Settlements to view all of your imported WPE settlements. How do I see what specific settlements were applied to a contract? Scroll through your contracts and find the one you have questions about. Tap on it, and it will open and display details of the contract. Scroll to almost the end of the contract and you will see the Settlement section which will list the settlements that have been applied to the contract. You can also tap on a settlement to view the specific details of that delivery. Bids Where can I go to see WPE bids? Tap on the Market icon at the bottom of the app, and then tap on Bids at the top of the Market screen. Bids will open and will automatically display elevators near you, including your nearest WPE facilities. How can I favorite my preferred delivery locations Simply tap the star next to the location you want to favorite. Once you have selected a favorite the star will become solid blue. You can also remove the favorite at any time by tapping on the star again. The favorites feature allows you to indicate your most preferred delivery locations and automatically bring those facilities to top of your list of bids.  To get more detail on your favorites you can press on the Favorites tab, directly right of Cash Bids. By clicking this tab it will bring you to a view with only your favorited locations. In this view you have the advantage of seeing a certain location's bids over a 6 month periods. The delivery period can be adjusted in the dropdown directly underneath the Favorites tab.  An additional feature in the favorites tab are basis charts for specific locations. By clicking on the delivery a new screen will appear with a basis chart. The graph displays three different data  sets over the past 12 months:  the locations' basis history, the regional average and the five year average. You can get out of this view by clicking the X in the top right corner. How can I set a Price Alert? From the Bids screen, tap on the Set Price Alert button. After tapping, a new screen will appear allowing you to customize the alert to meet your expectations. You can choose from cash, basis, or futures pricing. As well as the target price and alert frequency. Where can I find basis charts?  To find the basis charts/mapping tool, tap on the Market icon at the bottom of the app, and then tap on Bids at the top of the Market screen. On the Bids screen switch from CASH BIDS to FAVORITES . Then select a location and tap on a delivery period . A new screen will appear with an interactive basis chart. You are able to toggle throughout the graph to see past data and trends. FBN Market Advisory services  are offered by FBN BR LLC - NFA ID: 0508695.   Disclaimer: Please note that FBN merely serves to facilitate your communication with third party grain buyers and not as your agent or a party to any contract you enter into with any grain buyer. FBN has no control over, or liability for, the delivery, quality, prices, payment, legality or any other aspect of any grain transaction between you and a third party grain buyer. Neither FBN or any of its affiliates are responsible for ensuring that any third party grain buyer you transact with will complete the transaction or is authorized to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party grain buyer using the FBN website or mobile application, or if you have a dispute with such a third party grain buyer, you should resolve the dispute directly with that third party grain buyer. 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. For the purposes of quality assurance and compliance, phone calls to and from FBN BR LLC may be recorded.  Contact 877-472-4607 for more information. 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.


Article Grain Marketing

July 2022 Market Briefing: Region 1

05 July 2022

by Nicole Tonak

Upper Midwest/Dakotas have finally finished up with Spring planting. You, the producer, did a great job of getting as many acres as possible planted, under some tough conditions. Unfortunately, not all acres were planted, there are PP acres scattered throughout the region. Crop conditions As Spring planting progressed over the past few months, acre changes due to weather were inevitable. Spring Wheat planting was a struggle early on, and even though some acres were switched, ND was able to get most wheat acres planted. Higher input costs, along with grain markets, pushed some corn acres into beans throughout this region. In much of the northern region, even though seed was planted into soggy ground, and not under great conditions, things are drying out quickly. With the crop now emerged, it’s trying to catch up from the late planting dates, however, we are still behind. Early planted Wheat acres look good and are on track so far at this point. Corn and beans are for sure behind. Spraying has been underway, and with the slow growing to this point it looks like there could be additional spray costs ahead to keep things under control before canopy. The mid-June change to cooler temps has taken some stress off during these early growing days, although it looks like the heat will reappear in July. Moisture will be needed to compensate for any excessive heat that comes in the next 30 days. Recent market setbacks ahead of USDA’s June 30th acreage report did cause concern among some growers with uncertain yields projected throughout the upper Midwest. As advisors, we want you, the grower, to be comfortable with the sales you’ve made or additional sales yet to make.  With this yield uncertainty, I encourage you to watch for any changes +/- and adjust your percent sold accordingly to maintain accurate records ahead of harvest. If you have any questions regarding the markets or how to protect that risk going through the summer, I’d be happy to visit with you! Basis levels throughout the region are still strong. Most facilities/end users have rolled and are using new crop futures, making basis level adjustments to complete the cash prices for summer. As you look to summer cleanout, be mindful of road construction/detours and closures to ensure a seamless trip to the scales. Stay safe, Stay hydrated!  Enjoy your summer. Upcoming Events Check out these upcoming events in our region. For more details click here. Minnesota Honey Producers - St. Cloud, MN, July 6-8 Dakota Fest - Mitchell, SD,  August 16-18 R Calf Annual Convention - Deadwood, SD, August 18-20 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.