Jacob of Wahpeton, North Dakota reports:
"Wheat harvest is rolling in the southeastern part of the Red River valley in North Dakota. I just wanted to give you a little update. Hearing a lot of 35 to 50 bushel yields with very low test weights. Typical for around here is 55 to 70 bushel yields with pretty good test weight. Proteins have been high though, so likely no premium for protein being that everybody's wheat got stressed this year."
Jake has a very successful grain marketing consulting service. His full service is everything. Some of you should check out Kubela Hedging at: kubelahedging.com
Those of you who will have to deliver corn or beans this fall, it is time to collect the facts you need to make the decision whether or not to set fall delivery basis. Here are what you need to consider:
Is the crop in your area (50 mile radius) going to produce more, same or less bushels than normal? Consider the acre ratio and yield.
What percent of your fall delivery bushels will be delivered at the peak ten days of harvest versus what percent will be delivered before or after the peak harvest and how many days before and after the peak?
Is the fall delivery basis offered now for fall delivery firmer or weaker or the same as normally offered the first week in August?