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Soybean marketing action

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Old crop soybeans remain inverted (meaning they are valued higher in the nearby futures compared to future futures months). Translation — the markets want soybeans now, not later. Additionally, as futures drop, basis levels have been increasing (likely driven by domestic soybean meal demand).  Some think this was caused by the USDA over-estimating last year’s carryout. If true, this could lead to a drop in the carryout this coming year, which would change next year’s balance sheet. This may be bullish news.On the other hand, South American meal values are dropping and considering the spread difference, imports to the U.S. would be likely.  Plus, China is buying more fall shipments from South America than the U.S. recently. Long term this is bearish.Also, the market is having trouble estimating the yield potential, because planted acres are still uncertain. Reports indicate farmers in southern Missouri and Illinois were still planting this week. There are three more weeks of unknowns until the next USDA report, which will release updated surveys of several states.Unlike corn, soybean planted acres are more evenly distributed across the growing area. Iowa and Illinois represent nearly 25% of total soybean acres, but 50% of soybeans are produced equally in the next eight largest states.So, where will soybean futures go? The most bearish predictions show as low as $8 and the most bullish predictions are $13. More conservative ranges are $9 to $11. Volatility will remain until harvest.As always bean prices are subject to: final U.S. planted/harvested acres numbers; U.S. yields; the dollar’s value to other world currencies; China’s economy; and South American weather this fall. Market actionAll of this soybean market uncertainty made me rethink my current position this week. As I have shared previously, I’m currently 100% hedged at $11.15 Nov futures. I have thought for a while that futures have been overvalued and $9 per bushel is possible if not likely. However, with heavy rain across the Midwest, I’m reevaluating and taking a cautious approach to my position. After running several scenarios and potential outcomes I am more than ever uncertain where soybean futures could go.So, last week when Nov futures were near $10, I bought $10.20 call for 35 cents on 50% of the beans I will produce this year. What does this mean?On Oct. 23:• If Nov beans are above $10.20 I have the right to purchase beans for $10.20.• If Nov beans are below $10.20 then I will lose out on the 35 cents I spent to own the call.In other words, if beans are over $10.55 in Nov I can sell the call for a profit.  If not, I lose part or all of my 35 cents. Speculating or hedging?To be clear, this trade is speculative in nature. I’m a producer of soybeans, which means I need to sell soybeans (not buy). This trade allows me to buy soybeans if I wish, which isn’t something I need to do for my operation. Thus this trade is speculative, but hear me out.Why would I put this trade on?Because I’m not sure where prices are going to go and big surprises could be likely down the road. I want to be able to capitalize on these potential surprises. This trade has limited downside and helps me reduce regret. I think there is a good chance futures could rally $1 to $2. I’m willing to risk 35 cents to capitalize on that potential opportunity. Plus, I continue to keep my sales for my beans in place and thus have no further downside risk. Ultimately, it gives me piece of mind knowing I have a price floor and upside potential.Make no mistake though — this trade is inherently speculative. Some futures brokers would say this is “trading the market.” Others would say this is a great way to try and make additional money. Both statements are correct. Typically I’m a strong advocate for never speculating with the farm operation. However, there are occasional exceptions, like in this case where there is limited risk. As long as farmers completely understand the risks and potential regarding these types of trades, they can provide another potential opportunity to farmers, especially considering the constant uncertainty of the market.Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at jon@superiorfeed.com.last_img read more

Ohio Cattlemen’s Association Annual Meeting and banquet

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Ohio Cattlemen’s Association (OCA) will celebrate Ohio’s cattlemen, hear from industry leaders and set new policy for 2019 at the OCA Annual Meeting and Awards Banquet on Saturday, Jan. 12, at the Nationwide Hotel and Conference Center in Lewis Center, Ohio.The day’s events will kick off at 9:00 a.m. with the Cattlemen’s Quiz bowl written test. This youth event, sponsored by Farm Credit Mid-America, is for youth ages 8-21 to showcase their beef industry knowledge. It is a two-part contest, consisting of written and verbal rounds. Shortly after, a Youth Beef Quality Assurance Session will start at 10:00 a.m. There will be three age divisions offered and the top three winners will be recognized as well as the top team in each group. During the Ohio Cattlemen’s Foundation (OCF) luncheon, sponsored by Murphy Tractor, at 11:30 a.m., the 2019 scholarship recipients will be recognized and the OCF business meeting will be conducted.Following the luncheon, the “Engaging OCA’s Grassroots” session is open to members, county affiliate leaders, Young Cattlemen members, industry leaders and those who want to learn more about maximizing their involvement with OCA through events, programs and advocacy.The speaker lineup will focus on producer education.  The morning will kick off with faculty from Ohio State Department of Animal Sciences discussing their areas of research specialization. During the Annual Meeting, hear from the National Cattlemen’s Beef Association’s (NCBA) Allison Rivera, Executive Director of Government Affairs and Dr. Sara Place, Senior Director of Sustainable Beef Production Research. The Producer Education Series is sponsored by NCBA and the National Corn Growers’ Association.OCA’s Annual Meeting will be held at 2:30 p.m. Take an active role in OCA by attending this meeting. Members will set policy for the upcoming year, receive state program updates and Top Hand Club members will be recognized for their membership recruitment achievements.The evening’s banquet highlights county affiliate activities and six industry leaders and families and the recognition of an outstanding county affiliate group. The event concludes with the Cattlemen’s Social, featuring unique, one of a kind items that will be sold with proceeds benefiting OCA’s PAC, the be held following the banquet.Hotel rooms in the block are available until Dec. 21, 2018 at the Nationwide Hotel and Conference Center, 100 Green Meadows Drive South Lewis Center, Ohio 43035 (North of Columbus off of US Route 23) Hotel rooms are available at a special rate of $129 (includes breakfast for 2 people per room). Call: 614.880.4300 to reserve a room.RSVP by January 4, 2019. Visit www.ohiocattle.org to register online or download a registration form, or call the OCA office at 614-873-6736. OCA’s annual meeting is free to attend however the breakout sessions and evening’s events are ticketed with a price of $100 for one OCA member full-day registration, $45 for the luncheon and registration only and $60 for banquet and registration only. For non-member registration information, visit the OCA website or contact the OCA office.last_img read more

Hold Me Accountable

first_img Essential Reading! Get my 3rd book: Eat Their Lunch “The first ever playbook for B2B salespeople on how to win clients and customers who are already being serviced by your competition.” Buy Now The sales manager was speaking to his young business development representative about his results and his activity. The results weren’t there, and the activity was low, and certainly lower than the sales manager expected. When the sales manager asked the BDR why he didn’t have better results and greater activity, the salesperson told him that he was used to being held accountable for these things. Because the salesperson wasn’t being held accountable, he was coasting.Another manager interviewed a young salesperson who decided to the leave the company. When the manager asked the salesperson what he thought might be improved, the young salesperson told his manager that he wished he would have been accountable for removing deals from this pipeline when it was clear he should have stopped pursuing them. This salesperson wanted to succeed and, right or wrong, he didn’t feel he was being effectively led.What You Get WrongYou might think, “People don’t want to be micromanaged.” There is no part of accountability that requires one micromanage their team, those being two very different concepts. It is a mistake to conflate accountability to micromanagement.It’s also possible that you could believe that you shouldn’t have to impose accountability on “grown ups,” who should be capable of managing and leading themselves, especially when salespeople are given more autonomy than most other roles and should possess an equal amount of self-discipline.There is no doubt that these is always more work to be done than there are hours in the day. You have other duties and responsibilities that require your attention and your effort. You might think that shouldn’t have to hold people accountable when you are paying them, an unhealthy belief that always limits the success of a team and the individuals that make up that team.Accountability is a prerequisite of high performance.Your Leadership is RequiredNo one ever believes their best manager was the one who accepted their mediocre performance and stayed off their back. Neglect, in all its forms, is a lack of caring, and it is something that the person being neglected feels.If you reflect on the best leader you have ever worked for, you will recall that they held you accountable, pushing you to reach your full potential. You’ll also state that the individual you worked for prodded you because they cared about you personally and contributed to your growth and success.If you want your people to turn in the best performance they are capable of, you will hold them accountable for just that.last_img read more

Nebraska Releases Powerful Tribute Video Honoring Sam Foltz

first_imgNebraska Sam Foltz 27 tribute.Nebraska Football/TwitterAfter a week of heartbreak, the Nebraska football community is turning sorrow into pride.Last weekend, the Nebraska Huskers lost Sam Foltz,  their senior punter, in a fatal car crash in Wisconsin. His funeral was yesterday in Grand Island, Neb.Yesterday, the Huskers released a video that highlights the incredible career of the three-year starter, as well as his significant leadership role both on the team and in the local community.“My message today is all about teamwork,” the punter says.Now, the Huskers honor Foltz’s legacy by joining together in memory of their brilliant teammate with this video memorial.You can watch the tribute video here:“My name is Sam Foltz, I’m the starting punter here.My message today is all about teamwork.” pic.twitter.com/Sb885pH3VR— Nebraska Football (@HuskerFBNation) July 30, 2016Unfortunately, the car crash that took Foltz’s life also killed former Michigan State punter Mike Sadler.  LSU kicker Colby Delahoussaye, also in the accident, managed to escape the burning vehicle.Foltz, a Nebraska native, was entering his fifth year in the Huskers program. Named to the Ray Guy Award Watch List earlier this summer, he was expected to be one of the best punters in the country.last_img read more

Meeting with Federal officials about Caribou Recovery cancelled

first_imgDAWSON CREEK, B.C. – The Peace River Regional District says a meeting was scheduled between Area E Director Dan Rose and Federal Ministry of Environment and Climate Change but was cancelled at the request of Province of B.C.Rose says the meeting between the PRRD and the Federal Government was scheduled for Monday, December 10 to discuss their concerns with the Southern Mountain Caribou.  The meeting was cancelled the day before.Rose said Thursday; the PRRD has been working with the Federal Government.  “The Federal Government was quite concerned with the lack of transparency and engagement by the Provincial Government in the creation of the caribou recovery plan.” Rose wants the current plan to be suspended until a comprehensive impact analysis is completed on all socioeconomic impacts of any changes to land use in the B.C. Peace.This is the second meeting with the PRRD that has been cancelled by the Province.  The Province was supposed to meet with the Board at the beginning of December, but the meeting was cancelled when the Province discovered the meeting would be open to the public.The Regional District says they are continuing to advocate for an open conversation with the Province, Federal Government and local governments regarding the status of the discussions about caribou recovery activities west of Chetwynd.Over 17,000 people have signed a petition against the proposed Caribou Recovery Plan.  You can see the petition and sign it here.last_img read more

SC lifts Sreesanths life ban its BCCIs call now

first_imgNew Delhi: The Supreme Court on Friday cancelled life ban on India cricketer S. Sreesanth and asked the Board of Control for Cricket in India (BCCI) to reconsider his punishment. Sreesanth was arrested by Delhi Police along with Ajit Chandila and Ankeet Chavan on charges of spot-fixing during the 2013 edition of the Indian Premier League (IPL). In a relief for the pace bowler, the apex court set aside the life ban imposed on him as a bench headed by Ashok Bhushan asked the BCCI to consider the quantum of punishment on Sreesanth. The top court though maintained that he is guilty of betting/match-fixing. Delhi Police had arrested Sreesanth from his friend’s house while Chandila and Chavan had been picked up from the team hotel as the three were plying their trade for Rajasthan Royals in the T20 league.last_img read more

Shiv Sena tears into BJP over midnight political drama in Goa

first_imgMumbai: In a scathing attack on the political drama between the BJP and its allies in Goa over the leadership issue, the Shiv Sena on Wednesday dubbed it as a “terrible state of democracy”, saying they did not even wait for late chief minister Manohar Parrikar’s ashes to cool down.The “shameless game of power” started even before Parrikar’s ashes could merge with the land of Gomantak, the Sena said in an editorial in party mouthpiece ‘Saamana’. It claimed that had the BJP waited till Tuesday, its government in Goa would have fallen and one of the two deputy chief ministers would have joined the Congress and got the desired post, it claimed. BJP MLA Pramod Sawant was sworn in as the new Chief Minister of Goa just before 2 am on Tuesday, capping a day of hectic parleys between the saffron party and its allies to put a new government in place in the state. Also Read – India gets first tranche of Swiss bank a/c detailsAfter multiple postponements of the oath ceremony on Monday, the day Parrikar was cremated with state honours, 11 other ministers, including those from BJP’s allies Maharashtrawadi Gomantak Party (MGP) and Goa Forward Party (GFP), were also sworn in. “In the end, those who were eyeing their shares like cats ended the game post Monday midnight with the swearing in of Sawant as the chief minister along with his two deputies,” the Uddhav Thackeray-led party said.last_img read more

Oppn will get zero battey sannata says PM Modi

first_imgBanda (UP): Prime Minister Narendra Modi on Thursday promised to work “in mission mode” to rid Bundelhand of its water scarcity, while also claiming that the opposition will be reduced to ‘zero battey sannata’ in the Lok Sabha polls.”Opposition leaders are going with long faces after half of the polling is over as they know the outcome,” he said at a public meeting here in Bundelkhand region of Uttar Pradesh. “The opposition will get ‘zero battey sannata’,” he added, playing on the name of a Hindi movie, ‘Nil Battey Sannata’, which means zero divided by zero – a slang for nothing. Also Read – Uddhav bats for ‘Sena CM’Stating that he understands well the problem of acute water scarcity in the region, which is also responsible for its backwardness, the prime minister said it will be handled “in mission mode”. “I feel the struggle for water faced by my sisters. This challenge also has been accepted by your chowkidar,” said Modi. He promised to start work to provide water to the parched region “in mission mode” within a month after the announcement of the election result, if they return “the Modi government” to the power again. He said he would get women rid of water scarcity just like he freed them from smoke by providing LPG connections and the personal humiliation by providing toilets. Also Read – Farooq demands unconditional release of all detainees in J&KHe also promised to establish a ‘Jal Shakti Mantralaya’ to deal with the country-wide problem of water scarcity by reviving rivers. If voted to power, his next government would make an all out effort to ensure that water reaches people though all available means just like, he said, his government provided electricity to all villages in the last five years. Accusing the previous governments of “doing selfish politics”, the prime minister rued that even the Congress government supported by the SP and BSP kept hundreds of irrigation projects pending. “We have taken up 99 such big projects and most of them are on the verge of completion,” he said, while also referring to his government’s various other work like the Bundelkhand Expressway and the defence corridor projects impacting the region. Jibing at the Opposition, he said all the leaders in the poll fray, despite fielding a small numbwer of candidates are dreaming of becoming prime minister. He said the SP-BSP and the Congress have not told people about any of their schemes for ending terrorism and appear to be afraid of talking about the terrorism. Later in the evening before filing his nomination from Varanasi, Prime Minister Narendra Modi also held a mega roadshow in the temple town as thousands lined the streets to take a glimpse of their star candidate. The PM later tweeted that he was “grateful for the warmth and affection” shown by the people of Kashi. As chants of ‘Modi, Modi’ rent the air, the PM’s cavalcade traversed through Assi Ghat, Bhadaini, Sonarpura, Madanpura, Jangambadi, Godowlia before concluding at the Dashashwamedh Ghat, where he performed the evening aarti. Modi began the roadshow by garlanding the statue of Pandit Madan Mohan Malviya outside the Banaras Hindu University. He was accompanied by BJP chief Amit Shah, Uttar Pradesh Chief Minister Yogi Adityanath and other top alliance leaders.last_img read more

Billy Price counts on his strength Ohio State football counts on him

OSU redshirt junior guard Billy Price celebrates with coach Urban Meyer after the 2014 national championship victory.Credit: Lantern File PhotoThe last time Ohio State and coach Urban Meyer had three starters to replace on the offensive line, the 2014 Buckeyes experienced excruciating growing pains.Redshirt junior Billy Price was one of those linemates who struggled early on.In his first game against Navy in 2014, Price was taken aback by the speed of the game, which is something he struggled with early in his redshirt freshman season.Price said he vividly remembered when OSU surrendered six sacks in the fourth quarter in an early season loss to Virginia Tech. Lessons from those first two games are being passed on to the new group of “Slobs” in 2016.“One of the biggest things when I played Virginia Tech is things start flying so fast, and if you can’t get control of the chaos and situation early, one thing leads to another,” Price said. “I’ve been there, and the biggest thing is stay calm.”None of the national champion offensive line members improved more from game one to game 15 than Price. He earned a second-team freshman All-America honors in 2014. To follow that up, he started all 13 games last season at right guard rather than left guard, being named third-team all-Big Ten.At season’s end, Price still saw plenty of room for improvement.Offensive line coach Greg Studrawa has been working with Price since the spring on pass-blocking technique and playing to the offensive scheme. The third-year starter from Austintown-Fitch High School in Ohio, said that one subtle change in his technique has made the world of difference and has made him a more confident player.Already listed at 6-foot-4, 315 pounds, Price said that it’s nice at times for him to rely on his strength against tough opponents.On Sunday, the team took a vote on who should join captains along with redshirt junior quarterback J.T. Barrett, junior linebacker Raekwon McMillan and redshirt senior center Pat Elflein as the face of the program. The rest of the Buckeyes made it clear that they believe they can rely on Price’s strength and leadership.Price who was one of four players selected as a team captain to represent the Scarlet and Gray.“Huge honor,” Price said. “You’re a part of a legacy here at Ohio State to be a captain. There are very few captains and to be a part of that is just an honor.”Price has started 28 games for OSU in his career.He and Elflein are the only two members remaining from an offensive line that led the way for 264.4 rushing yards per game in 2014 and 245.2 per game in 2015. Those two will be counted on by Meyer and staff to lead a young batch of Buckeyes back to being the brawn of the offense.Though Price is a poster boy for the Buckeyes, he said that there shouldn’t be any doubt who is the true leader of the offensive line.“First and foremost, this is Pat (Elflein)’s offensive line,” Price said. “I don’t want there to ever be a question about that.”True freshman Michael Jordan will likely be stepping into Price’s role from 2014 as a first-year eligible starter on the offensive line. Price has spoken to Jordan on multiple occasions, telling him to take care of school and control the speed of the game. While Elflein was recovering from minor shoulder surgery, he counted on his right-hand man to mentor Jordan and other freshmen inside the unit and develop a camaraderie that was present on the 2014 offense.“I haven’t been in here all summer, so he has kind of taken that role when I’m not in there,” Elflein said. “There’s not a problem having two leaders on the offensive line.” read more

Beckham predicts World Cup finalists

first_imgDavid Beckham is backing both England and Argentina to reach the final of the World Cup at RussiaThe closest the Three Lions have come to winning the World Cup since their 1966 triumph on home soil came in 1990, where they lost to West Germany in a penalty shoot-out in Italy at the semi-final stage.While Argentina have not won the tournament in 32 years and came narrowly close to ending that wait in the 2014 World Cup, where they lost 1-0 to champions Germany in the final.“I think obviously my choice would be England to win the competition, but that’s me being biased and passionate about my country,” said Beckham, according to the BBC.Jadon Sancho, Borussia DortmundCrouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.The former Real Madrid midfielder is pleased to see England get off to a promising start in their campaign after they defeated Tunisia 2-1 in their opening game of Group G.“I’m very happy that we won the first game in the group,” added Beckham.“England is a very young team, they don’t have a lot of experience yet and the journey of the World Cup will become harder and harder because there are many good teams in the tournament.”last_img read more