THE LAND — AUGUST 6/AUGUST 13, 2021
www.thelandonline.com — “Where Farm and Family Meet”
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November soybeans closed lower for the last three weeks NYSTROM, from pg. 18 the last 92 weeks at 9.775 million bpd. President Biden signed a non-binding executive order with a goal of 50 percent of all new car sales in the United States be zero-emission, i.e. electric, by 2030. China makes approximately 70 percent of allelectric vehicle batteries. China stated they will release commodity reserves considered “essential for livelihood” in a targeted manner. They will tighten supervision of fabricating and spreading price increase information, hoarding, and collusion to push prices higher. They will launch an investigation of fertilizer producers and distributors suspected of driving up prices through possible hoarding and collusion. Outlook: The August WASDE report will include farmer surveys, satellite imagery, and other considerations, but will not include an actual on-hand field survey. Field samples were discontinued last year due to budget restraints. The average trade estimates for the August report are 177.6 bushels per acre with production at 15.004 billion bushels. The July numbers were 179.5 bu./acre with production at 15.165 billion bushels. Prices may likely linger in their recent range until after the report. Daily ranges and direction will be dominated by every updated forecast until we have a
MARKETING better idea of the crop size. For the week, September corn was 8 cents higher at $5.55 and the December corn contract was 11.25 cents higher at $5.56.5 per bushel. It’s not too early to looking ahead to 2022. The December 2022 corn contract was up 22 cents for the week at $5.17 per bushel. SOYBEANS — Soybeans took a big plunge on Aug. 3 after the weekly crop condition report showed a 2 percent improvement to 60 percent in the good/excellent category. The balance of the week found November soybeans trading within Aug. 3’s range. November soybeans have closed lower for the last three weeks. The USDA announced two fresh new crop soybean export sales in the last half of the week that kept hopes alive that China is back in the market. The two fresh sales were 11 million bushels to unknown and 4.8 million bushels to China. This month is critical for determining the soybean yield. If harvested acres are 86.7 million acres and we see a .5 BPA decline, with all other factors the same, it translates to a 43.35 million bushel cut to ending stocks. A 2021/2022 carryout near 110 million bushels would seem untenable. Prices would need to reach a level to curtail demand. The average trade
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Missed dates could mean penalties JOHNSON, from pg. 18 (Social Security Administration, 2019). Age 70½ Under the SECURE Act, in most circumstances, once you reach age 72, you must begin taking required minimum distributions from a Traditional Individual Retirement Account (IRA) and other defined contribution plans. You may continue to contribute to a Traditional IRA past age 70½ under the SECURE Act as long as you meet the earned-income requirement. Understanding key birthdays may help you better prepare for certain retirement income and benefits. But perhaps more importantly, knowing key birthdays can help you avoid penalties which may be imposed if you miss the date.
offered. Advisory services are only offered by Investment Adviser Representatives. Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SECregistered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2021 FMG Suite.
Securities and insurance products are offered through To learn more about how Profinium is a full financial Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member health solutions center offering banking, mortgage, insurFINRA/SIPC. Advisory services are offered through Cetera ance, trust and wealth planning services in Southern v Investment Advisers LLC. Neither firm is affiliated with Minnesota, visit Profinium.com. the financial institution where investment services are
estimate for the Aug. 12 yield is 50.4 bu./acre with ending stocks at 159 million bushels. Weekly export sales were within expectations with old crop sales of 400,000 bushels and 15.6 million bushels for new crop. Old crop commitments at 2.275 billion bushels meet the USDA forecast for 2.27 billion bushels. China has 25.7 million bushels of unshipped old crop on the books. New crop commitments are 389.6 million bushels vs. 556.2 million bushels last year by this date. The June National Oilseed Processors Association Crush report showed 161.7 million bushels of soybeans were crushed, lower than the 162.1 million bushels expected. Soyoil stocks at were higher than the 1.994-billion-pound forecast. In a new twist, the American Bakers Association is asking for lower biodiesel blending mandates to prevent tighter soyoil supplies. Smaller soyoil supplies could drive up food prices according to the association. Argentine truckers ended a strike at the Bahia Blanco port that disrupted soybean deliveries to the port. Loadings however were able to continue. This port has been important recently in topping off vessels that began loading upriver at the Rosario port on the Parana River. Outlook: Soybeans took a step back this week on improved conditions; but when export interest popped up later in the week, prices recovered a good portion of the week’s losses. August weather will be watched closely just as it always is for its influence on the final yield. We don’t have room for production declines without cuts to demand. It’s a wait-and-see time until the report. Mother Nature has the wheel as we wait to see if the November contract can stay above $13.00 per bushel. For the week, November soybeans were down 12.5 cents at $13.36.75 per bushel. The November 2022 contract was 4.5 cents higher at $12.58.25 per bushel. Nystrom’s notes: Contract changes for the week as of the close on Aug. 6 (September contracts): Chicago wheat was 15.25 cents higher at $7.19, Kansas City was 32.5 cents higher at $7.05.75, Minneapolis was 11.5 cents higher at $9.16.25 per bushel. The December 2021 Minneapolis wheat was 12.25 cents higher at $9.03.25 per bushel. v BACKED BY A YEAR-ROUND
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