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www.thelandonline.com — “Where Farm and Family Meet”
THE LAND — SEPTEMBER 3/SEPTEMBER 10, 2021
MARKETING
Grain Outlook Growers are holding on to corn ... for now
Financial Focus Care for aging parents a national concern
The following marketing corn. Thanks to healthier lifegies to medication. analysis is for the week endWeekly ethanol production styles and advances in modIt is also important to know ing Aug. 27. fell for a seventh straight ern medicine, the worldwide the location of medical and CORN — Corn found supweek and to a 22-week low at population over age 60 is estate management paperport to begin the week after 933,000 barrels per day, down growing. The United Nations work, including: the individuslipping to six-week lows. The 40,000 bpd. Ethanol stocks estimates that by 2050 the al’s Medicare card, insurance energy market showed a fell for a fourth week, down number of people aged 60 and information; durable power of marked recovery of the previ335,000 barrels to 21.2 mil- older will have more than attorney for healthcare; and a ous week’s losses and corn lion barrels. Margins doubled (per The United will, living will, trusts and MARISSA Department of followed suit. The Aug. PHYLLIS NYSTROM improved 8 cents per gallon to Nation other documents. JOHNSON CHS Hedging Inc. 24 drought monitor showed 14 cents per gallon. Gasoline Economic and Social Affairs, Profinium It should be noted Power of St. Paul 42 percent of the Midwest is demand over the last six 2017). As our nation ages, Wealth Management attorney laws can vary from in “abnormally dry” condiweeks has averaged 2.7 per- many Americans are turning Advisor state to state. An estate strattions vs. 39 percent in the cent below pre-Covid 2019 their attention to caring for egy which includes trusts may aging parents. previous week. Rain in the forecast levels and 7.8 percent above 2020 levinvolve a complex web of tax rules and over the next two weeks should help els. On Aug. 26, it was reported by news For many people, one of the most dif- regulations. Consider working with a with test weights in corn and soybeans, services the Environmental Protection ficult conversations to have involves knowledgeable estate management but that window will quickly close as Agency submitted blending mandate talking with an aging parent about professional before implementing such we head into September. U.S. corn con- recommendations to the White House extended medical care. The shifting of strategies. ditions as of Aug. 22 fell 2 percent to 62 Office of Management and Budget. It is roles can be challenging, and emotions percent good/excellent to the third- believed they recommended retroac- often prevent important information Be thorough Remember that if you can collect all lowest in the last 12 years. Illinois was tively lowering the 2020 blending rate, from being exchanged and critical decithe critical information, you may be down 7 percent, Iowa steady, Minnesota lower 2021 beneath the 2020 level, and sions from being made. able to save your family time and avoid down 1 percent, North Dakota down 4 raise 2022 above both the 2020 and When talking to a parent about future future emotional discussions. While percent, and South Dakota improved 1 2021 levels. The 2020 mandate is cur- care, it’s best to have a strategy for percent. Corn was 41 percent dented rently at 15 billion gallons to come structuring the conversation. Here are checklists and scripts may help prepare you, remember that this conversavs. 38 percent on average and 4 percent from conventional biofuel and 5 billion some key concepts to consider. tion could signal a major change in was mature, spot on the average. gallons from advanced biofuel. No Cover the basics your parent’s life. The transition from Weekly export sales were within details have been announced on the Knowing ahead of time what infor- provider to dependent can be difficult recommendations the EPA submitted. expectations and will probably miss mation you need to find out may help for any parent and has the potential to the U.S. Department of Agriculture’s In April, the deadline for refiners to keep the conversation on track. Here is unearth old issues. Be prepared for show compliance with 2020 requiretarget this year. This week’s sales were a checklist that can be a good starting emotions and the unexpected. Be kind, 300,000 bushels to bring total commit- ments was extended to Jan. 31, 2022, point: Primary physician; specialists; but do your best to get all the informaso no one is out of compliance yet. If ments to 2.768 billion bushels. This is edications and supplements; and aller- tion you need. slightly below the 2.775 billion bushel See NYSTROM, pg. 19 Don’t procrastinate USDA projection with limited time left. The earlier you can begin to commuChina canceled 5.3 million bushels of nicate about important issues, the more old crop sales, leaving them with 59 likely you will be to have all the informillion bushels of old crop sales to ship corn/change* soybeans/change* mation you need when a crisis arises. with just under two weeks left in the Stewartville $5.74 -.54 $12.33 -1.14 How will you know when a parent marketing year. There hasn’t been a needs your help? Look for indicators Edgerton $5.54 -.84 $12.53 -.69 corn sale for either crop year to China like fluctuations in weight, failure to Jackson $6.18 -.15 $12.38 -.85 since late May. New crop sales this take medication, new health concerns, week were 26.9 million bushels to bring Janesville $6.12 -.14 $12.28 -1.02 and diminished social interaction. total new crop sales to 759 million Cannon Falls $5.74 -.34 $12.23 -1.24 These can all be warning signs that bushels, the highest in at least 15 years Sleepy Eye $5.74 -.39 $12.50 -.76 additional care may soon become necby this date. Last year we had sold 527 essary. Don’t avoid the topic of care just Average: $5.84 $12.38 million bushels for new crop by this because you are uncomfortable. date. China has so far purchased 421.2 Year Ago Average: $3.05 $8.94 Chances are that waiting will only million bushels of U.S. new crop corn. make you more so. Grain prices are effective cash close on Aug. 31. Columbia popped up this week to buy *Cash grain price change represents a two-week period. nearly 10 million bushels of new crop See JOHNSON, pg. 19
Cash Grain Markets
Information in the above columns is the writer’s opinion. It is no way guaranteed and should not be interpreted as buy/sell advice. Futures trading always involves a certain degree of risk.
