Understanding that we are in a weather-dominated marketplace right now. It?s easy to see why as the rain never seems to fall across much of the state. Some of our eastern neighbors have seen a little, but it?s not always enough to keep them growing. This is going to be an issue as we get further into the year.
However, while we enjoy the prices we are getting paid, those prices aren?t lending themselves to being able to move a lot of grain overseas. This is typically the slower time of year for old crop sales, but even for the slow period, it is remarkably slow. Basis prices also show that there isn?t much demand for our grains right now.
Jim McCormick of AgMarket.Net talks with us about the fact that we are seeing more imports of grains from other countries for domestic use than we are seeing our own grain being purchased domestically. There are a lot of factors that are leading to this.
The weather is going to keep us guessing how this crop turns out. While the El Ni?o pattern has arrived, we aren?t just flipping a switch and getting rain. The atmosphere will need time to make changes. McCormick says it is so important to protect yourself and be able to take advantage of this market.
