Dru Melvin

The January WASDE provided a few fireworks last week. 2022 harvested acres dropped from 80.8 million acres to 79.2 but yield went up 1 bushel per acre to 173.3. This resulted in a nice spike in corn futures back to the 6.75 range. Old crop futures have now traded in the 6.50-7.00 range for all…

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This past month has quietly been a down trend for grain.  Producers have been in the field planting both corn and beans, China has cancelled corn purchases, Poland has bought U.S. soybean meal for this summer, and we continue to hear more chatter about El Nino gaining strength and potentially creating weather problems around the…

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I grew up in northwest Iowa on a small grain and livestock farm.  After graduating from South Dakota State University, I began my career with DeBruce Grain as a grain merchandiser and location manager serving the Nebraska, Iowa and Kansas areas. I then went on to earn my master’s degree in Agribusiness from Kansas State…

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4/4/2023 We had the quarterly stocks number from the USDA Friday March 31st. Corn stocks were slightly higher than expected. However, stocks are still 350 million bushels shy of this time last year. May futures lead the way higher on Friday and closed up double digits at $6.585. This is the highest price for May…

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