Marketing

Growers enthused with the condition of 2020 crops  Andy Pulk — Wannaska, Minn. Aug. 14 “It just missed us last night.”  FROM T  Todd Wentzel — Murdock, Minn. Aug. 14 Andy Pulk The Land spoke with Andy Pulk on Aug. 14 as he reported a large rain event hit just south of the farm. That event resulted in over six inches of rain in areas. While Pulk missed that rain, the farm did receive between one to two inches today. Pulk finished rye grass harvest Aug. 6. Pulk had the rye grass customed bailed. “It was a fair crop.”    FIELDS H E Colby Deters — Sauk Centre, Minn. Aug. 17 Compiled by KRISTIN KVENO – The Land Staff Writer Todd Wentzel The crops are flourishing on the Wentzel farm. The Land spoke with Todd Wentzel on Aug. 14 as he reported the corn is currently in the soft dough stage and beginning to dent. While not all the crop is doing well due to the hailstorm last month, Wentzel is pleased with much of the crop. Rye grass is needed in the area and Pulk already has half his crop delivered. “We got a lot of rain last week.” The Land spoke with Colby Deters on Aug. 17 as he “The beans look good.” Wentzel sprayed 30 percent of the soybeans for aphids. This is

Corn is pollinated and in the blister stage. “It has reported between five and six inches of moislater than usual for aphids, which Wentzel is potential; but needs some heat.” Pulk noted that the ture fell on Aug. 14. “We got a little wind; we hopeful that means he won’t have to spray corn doesn’t have any yellow to it. The soybeans didn’t get any damage. It’s still wet all over.” anymore for the pest this season. The black are setting and filling pods. “It looks much, much Deters is hoping that it’s dry enough later beans are turning. He expects to be harvestbetter than a month ago.” this week to haul manure. Next week Deters Colby Deters ing the crop around Sept. 1.

Pulk hopes to start swathing oats next week as will be making fourth crop hay in addition to Wheat is finished. “Harvest went well, the forecast looks favorable to get out in the field. meadow hay around the same time. Once hay is done, Deters weather cooperated.” Wentzel wrapped up He’s also doing tillage on prevent plant ground, focus will be on corn. He expects to be doing corn silage in early wheat harvest two weeks ago, it took three which has been a slow process as the field condito mid-September, then it will be on to grain corn, then highdays. “Probably a little below average crop. It tions have been poor. moisture corn harvest. Deters is pleased with how the corn is was better than I expected.”

“I’m much more optimistic than I was in June. It looking in the field. “It’s great, it looks really good.” With wheat done and the focus now on gethas come around dramatically.” While Pulk believes On the dairy side, there’s staffing changes as some workers ting equipment ready for his first-ever black a record crop is not going to happen this year, “We are leaving to head back to college. The change in the weather bean harvest, Wentzel is feeling good at what may come out of this with a fair crop.” from hot and humid to cooler temperatures have been a nice he sees out in the fields. “I think we’ll still break for the cows. “A little but less hot makes everything a little see an above-average crop in corn, beans easier, a little smoother.” It looks like the rain is going to stay look really good.” away for now, and the less humid weather will remain for the time being.

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Grain Outlook So far, derecho does little to budge corn market Livestock Angles Prices better, but livestock market not out of the woods

The following marketing The weekly drought moniThus far, the month of look. However, the feeder analysis is for the week ending tor as of Aug. 18 indicated August has been a fairly posiauctions have been very Aug. 21. the abnormally dry area in tive month for livestock active and placements are CORN — Corn gapped higher to jumpstart the week, but then spent the balance of the week giving nearly all of it back. December corn closed the overhead gap at $3.43.75 left from July 13, topping out PHYLLIS NYSTROM Iowa had expanded to 88 percent of the state. For the Midwest, 29 percent of the area was considered abnormally dry. Above-normal rain is in the forecast for the corn belt through early September. futures and the cash trade. The feeder cattle market has seen a good advance in prices in the cash trade while the futures has remained rather lethargic. The live cattle market has advanced in all JOE TEALE bound to increase substantially in the months ahead. This will likely slow the enthusiasm in the months ahead as far as a continuation of the current price rally sometime in the future. CHS H St at $3.46 per bushel. The market was still absorbing the devastation across Iowa from the derecho on Aug. 10. The Iowa Department of Agriculture estimated 57 million bushels of commercial grain storage were either damaged or destroyed in the previous week, centered in the central and eastern parts of the state. The Midwest Crop Tour motored across the corn belt during the week, announcing state totals each evening. They found better-than-expected prospects in Minnesota, Ohio, South Dakota, Indiana and Nebraska. While edging I n . . Paul The Midwest Crop Tour pegged Iowa’s corn yield at 177.8 bushels per acre, down 2.7 percent from last year’s tour estimate of 182.8 bu./acre. Minnesota took the top spot on this year’s tour lineup with an estimate of 195.1 bu./acre, up 14.5 percent from last year’s 170.37 bu./acre tour outlook. For Illinois, this year’s number was 189.4 bu./acre vs. 171.2 bu./acre last year. Weekly export sales were 2.4 million bushels for old crop and 28.4 million bushels for new crop. Old crop sales were disappointing, but new crop sales Broker Great Plains Commodity Afton, Minn. The hog market has been an extremely erratic market over the past several months. The number of hogs has been a burden on the prices as well as the slowdown of exports during the same period. Domestic demand has improved and has helped a rebound in the past several months which can be associated with the reduced prices of pork at the consumer level. This has helped in the recovery of cash prices at the producer level. However, we are still a long way from good profitable levels for the producer. aspects — including the cash price, the futures price and the boxed beef prices. The hog market has been the most volatile of the livestock markets as prices have constantly moved higher — then lower — almost on a daily basis. The good news is most are well off their lows for the year so far. Now the question becomes will these trends hold for the rest of the year. After months of falling prices, the cattle market is showing signs of renewed price advancement in all areas of the trade. There are several reasons for the the Iowa section of the tour found some devastated fields due to the derecho and dry conditions, the market likely had already leaped to the worst-case scenario and now had to pull it back. We did see fresh new crop corn export sales announcements this week of 23.6 million bushels to China and 5 million bushels to unknown. The trade seemed See NYSTROM, pg. 19 were at the top of estimates. Old crop total commitments stand at 1.74 billion bushels. To hit the USDA target of 1.795 billion bushels, we need to sell 9 million bushels per week for the balance of the month/marketing year. New crop sales continue to soar with total renewed optimism in the cattle market. In the past several months, the placements have been lighter than expected and the heavier cattle which had backed up seem to be disappearing. Also, the demand for beef has increased both domestically and in the export arena in the last month or more. This all bodes well for the short-term outU.S. Department of Agriculture hog reports continue to show large inventories of hogs which are likely to restrict any major price rallies in the near future. However, the outlook for the short is likely to see some further recovery in prices as demand is expected to remain positive. Domestic and export demand will to shrug off the announcements with little impact to prices. Corn conditions fell 2 percent for the week ended Aug. 16 to 69 percent good/ excellent vs. estimates for a 3 percent Cash Grain Markets corn/change* soybeans/change* St. Cloud $2.95 +.29 $8.50 +.41 likely determine the direction of hog prices over the next few months. The alternative is, if hog numbers are reduced, this will help bring some positive influence to price in the future. v decline. Corn is 23 percent dented vs. Madison $2.93 +.29 $8.48 +.44 24 percent average with 76 percent in Redwood Falls $3.09 +.38 $8.50 +.47 the dough stage compared to the averFergus Falls $2.83 +.31 $8.40 +.46 age of 69 percent. After the windstorm blew through Iowa, their rating plunged Morris Tracy $2.87 $2.91 +.28 +.30 $8.45 $8.46 +.47 +.47 For marketing news 10 percent while Illinois was down 3 percent and Minnesota down 1 percent from the previous week. The tour’s U.S. corn yield estimate has been below the Average: Year Ago Average: $2.93 $3.29 $8.47 $7.52 between issues ... visit www.TheLandOnline.com U.S. Department of Agriculture final in Grain prices are effective cash close on Aug. 25. seven out of the last eight years. *Cash grain price change represents a two-week period.