Last Day
/
Partners,
Finished up Tuesday just in time to get the combine to the service center for an inspection, and all the grain tucked in before it started raining. Then the rain continued throughout the day on Wednesday. Harvest was a good one with above trendline corn and soybean yields. We are still compiling all the records to figure specific yields.
The basis would seem to indicate that all the farm storage built over the last several years has changed the way crops are marketed. The old days of dumping all the extra crop that the bins won't hold at harvest are less. Most farmers are doing a better job managing the extra bushels, marketing-wise. We usually have enough HTAs (hedge to arrive contracts) to soften the blow of overrun bushels and allow us to absorb the extra crop to be marketed more orderly. This year even with the quick harvest due to the weather, there didn't seem to be a real harvest price low.
We put in pictures of my parents--Marcus's grandparents--in the field on the last day of the 2016 harvest. This year was the 62nd harvest by Hesses on the home farm where Marcus & Shanna live. Farming runs deep in the blood of the Doll side of the family also: at the farm where Phyllis and I live, which was homesteaded by Phyllis's ancestors, this year marked the 147th harvest by the Doll family. Marcus is the 6th generation to pick a corn crop here. We love this rich history!
Speaking of history, enjoy this World Series--GO CUBS!!!
Current cash prices:
Corn 3.19
Soybeans 9.67
Steve
