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Tidbits, Estimates, Markets & Rain Days Update 6/7/23

A suggestion about discussing the marketing tools with your merchandiser; you will probably have more success in getting those market tools provided if you ask one question at a time. The most important one is pricing 100% of expected production and, if you come up short on bushels, will the merchandiser roll those bushels to the next crop year? Give the merchandiser time to digest the question and provide you an answer before you go to the put questions.

You must realize no merchandiser expects a farmer to have a grasp of the solution to the problem of why farmers don’t sell much or any corn near the top of the market.


 

Highlights


Yesterday’s afternoon weather models are still predicting a more active weather pattern next week, but both models trended slightly drier than the previous model runs. That supported corn yesterday afternoon.

India bought their last half of 2023 potash needs about two months ago. China completed this week their potash purchase for the remainder of 2023, a whopping $115 per mt lower than India's purchase! That is a strong indication potash values will continue lower in the coming months, probably into 2024.

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