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October 03, 2018 | Grain Hedge Insights | Kevin McNew | Views: 270

Harvest Delays Expected in the Midwest

Area dealing with heavy rainfall and flooding over the past 10 days with more expected today

Harvest Delays Expected in the Midwest

Harvest Delays Expected as Much of Midwest Expects Thunderstorms

E Nebraska and W Iowa have seen flooding along the Missouri River lately and are forecast for more rain this morning through the early part of next week. E Iowa and W Illinois have also been dealing with heavy rainfall and flooding over the past 10 days, and even more rain is expected later today. S Wisconsin and N Illinois can also expect severe thunderstorms later today and into tonight, with the National Weather Service warning of possible hail and 60 MPH winds.

President Trump Plans Trip to Iowa Next Week to Make A Pro-Ethanol Announcement

On Oct 9, President Trump will head to Council Bluffs, Iowa and is expected to instruct the EPA to remove a summertime ban on E15. Iowa is the largest producer of ethanol in the US and the move would likely serve Republicans in rural states well as midterm elections draw nearer. Following the trade war with China, ethanol exports slowed substantially and have caused some US plants to idle or shut down completely. Allowing for year-round E15 would boost domestic demand for ethanol, as well as lower fuel costs as crude oil has recently been approaching 4-year highs. Iowa Senators Joni Ernst and Chuck Grassley are both strongly optimistic that President Trump will follow with his campaign promise.

Export Sales Announcement

Private exporters reported to the U.S. Department of Agriculture export sales of 230,000 metric tons of corn for delivery to Japan during the 2018/2019 marketing year.

Russian Ag Group Considering Halting Loading Of Grain For Export Due To Quality Concerns

Russian agricultural watchdog Rosselkhoznadzor states that it may stop grain loading work at 30 terminals in 2 of the largest grain exporting provinces. The group sites the need to ensure that all grain bound for export is free from pests or toxins such as ergot to prevent any Russian shipments from being rejected by other countries. This news follows stricter quality standards put in place back in mid-September, combined with a stronger rouble has caused Russian grain exports to slow.

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

October 02, 2018 | Coach’s Corner | Greg Martinelli | Views: 293

Efficiency vs. Effectiveness

Which is better? Can you have both?

Efficiency vs. Effectiveness

When coaching salespeople, the number one thing they tell me they want more of is time.

This usually leads to a time management discussion. The focus of most time management discussions turns to efficiency.

Most efficiency discussions come up with ways to get more done in less time or with less effort. These are all great, except for one detail – people. Sales is a people business and with people, efficient isn’t always effective.

In his book, The 7 Habits of Highly Effective People, Stephen Covey tells us "with people, fast is slow and slow is fast.”

His point is that being efficient isn’t always the best answer when dealing with people and building relationships. You may get a lot of tasks done by being efficient, yet fail to achieve the results you are looking for.

The struggle for all of us is that we are all given a set amount of time … 24 hours in a day and only 8-10 of them when we can reach our customers.

In agribusiness, we meet face to face and farm to farm over a large geography. We meet in feed mills and grain elevators over several states. To physically accomplish our jobs, we have to be efficient with our travel time. However, to get results and sales, we have to be effective.

The key to being a successful ag sales professional is to balance these two factors. As with many decisions in sales, the answer is not always black and white.

That’s the skill and knowledge you learn and develop over the years as a salesperson. Take some time to review the two sides of the below areas and challenge yourself, “Am I trying to be too efficient and not achieving results?” or "Am I trying to be too effective and not getting in front of enough customers?”

Balancing efficiency & effectiveness

  • Sending a broadcast email vs. picking up the phone and calling

We can get a lot done with a keyboard and the click of a mouse and I’m in no way saying to eliminate email or texting activity. However, when the stakes are high or you have a complicated message, think about picking up the phone and spending a little more time on this message.

If you don’t have time to call every single customer, then consider calling your top customers or those most affected by the topic.

  • Calling on all customers  vs. only calling on those that need to be 

While you are in Clay County, you might as well call on all those customers in Clay County. Why not? You might not be back for a month or more.

The reason not to is lost opportunity time.

Question yourself on who needs to be called on and who doesn’t. Every customer doesn’t need nor deserve a farm call. You have to balance the ROI of your time.

Will a sales call move the ball forward with this customer? Will it result in more sales, continued sales, a better relationship? If the answer to these questions is “no” or even “probably not," then seriously challenge the need to go see them.

Other questions to ask yourself: Do I call on every customer every time I'm in the area? Has it been a long time since I called on them? If I call on this customer, which customer will I not call on to make time for this call?

  • My Monday customer route vs. scheduling customers and prospects based on priority

Many people love a routine. It feels organized, helps us plan and makes decision making easier. However, I’ve seen this be a sales limiting practice for many.  

If you have a small geographic area and have signed up all the customers you want or can, then this strategy might be a good fit.

I ran across this with a sales team that had one-county territories. Their prospecting list was very limited, so they set every customer up on a day of the week for a sales call. Again, this made life very easy for them to plan. As I began coaching them, however, it was difficult to work in prospecting time or spend more time with higher value customers.

As you sit down on Sunday night and look at your calendar for the upcoming week, challenge yourself on the above three spectrums.

  1. Where do you tend to become overly efficient at the expense of being effective?
  2. Where do you try to be overly effective at the expense of being efficient and reaching more customers?
  3. What would happen if you challenged your opinion on where you need to go and who you need to call on?
October 01, 2018 | | Views: 304

Monday Mycotoxin & Crop Report for October 1

Covers new and higher reports of aflatoxin and fumonisin in corn, above-average numbers for harvest progress, and a mycotoxin testing tip from Alltech’s Dr. Max Hawkins

Monday Mycotoxin & Crop Report for October 1

This week's report covers new and higher reports of aflatoxin and fumonisin in corn, above-average numbers for harvest progress, and a mycotoxin testing tip from Alltech’s Dr. Max Hawkins.

 

October 01, 2018 | Grain Hedge Insights | Kevin McNew | Views: 183

Last Minute Deal to Upgrade NAFTA

Canada has agreed to give U.S. dairy farmers access to 3.5% of its $16 billion domestic dairy market

Last Minute Deal to Upgrade NAFTA

Canada and U.S. Reach Last-Minute Deal to Upgrade NAFTA

Late on Sunday night, the U.S. and Canada signed an agreement that would save NAFTA and would allow Canada to move forward with reforms already agreed to by the US and Mexico. Canada has agreed to give U.S. dairy farmers access to 3.5% of its $16 billion domestic dairy market, in return for an anti-dumping trade dispute mechanism that the Canadian government wished to see preserved from the original NAFTA. Auto manufacturing will also be re-incentivized to encourage more production in the US and Canada, at Mexico’s expense. The U.S.’s ability to put tariffs on Canadian steel and aluminum were not addressed. President Trump plans on signing the deal at the end of November and then sending the bill to Congress for approval.

Commitment of Traders Report Shows Speculators Short Covering Corn, Soybeans During Last Week’s Rally

For the week ending on Sep 25, managed money reduced their net short position by 18,497 to 112,779 contracts amid that week’s near 20-cent rally. Corn’s outlook remains bearish, however, with last week’s USDA Quarterly Stocks Report showing corn stocks coming in above expectations at 2.14 billion bushels. For soybeans, money managers cut down their net short position by 11,199 to 58,614 contracts. Soybeans also saw an increase for their stocks in the USDA report, rising to 438 million bushels. Speculators made only slight adjustments for Chicago SRW, reducing their net short position by 260 to 1,119 contracts. The net long position for KC HRW was reduced by 3,054 to 34,030 contracts. Minneapolis HRS’s net short position was also reduced by only 53 to 2,876 contracts.

More Moisture Forecast Across Corn Belt as Temps Set to Drop in the West

Over the next 5 days, several inches of rain are expected in different pockets around the Corn Belt. S Wisconsin, E Iowa, central Illinois and Indiana, NW Missouri, and NE Kansas have up to 3 inches in the forecast between now and Friday. The GFS weather data calls for more severe storms in the 6-10 day forecast, with significant rainfall events across nearly all of the Dakotas, Minnesota, Iowa, Illinois, and Michigan. Temperatures are also expected to fall in the western half of the Corn Belt, with the Dakotas, Minnesota, and Wisconsin showing daytime highs in the mid 50s. Parts of North Dakota saw had an overnight frost last week, possibly damaging to some still-maturing corn and soybean plants.

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

September 28, 2018 | Grain Hedge Insights | | Views: 391

Taiwan Agrees to Buy Soybeans from Iowa, Minnesota

Country has signed a deal to buy $1.56B soybeans over the next two years

Taiwan Agrees to Buy Soybeans from Iowa, Minnesota

Taiwan Agrees to Buy $1.56 Billion Soybeans from Iowa And Minnesota

The team from the Taiwanese Agricultural Trade Goodwill has signed a deal to buy between 3.2-3.9 MMT of soybeans from Iowa and Minnesota over the next two years. The valuation of those beans stands at $1.56 billion. Taiwan is the sixth largest export market for US origin soybeans. In 2017, Taiwan imported 1.4 MMT of beans from the US. In 2018 so far, Taiwanese purchases have increased 80% from the five year average and they have bought 1.2 MMT of beans from January to July. As the trade war between the U.S. and China rages on, Taiwan is seeking to strengthen their ties to the U.S. with this agreement, which very may ruffle feathers with the Chinese government, who see Taiwan as a part of China, not a separate country.

Brazilian Soybean Planting Continues at Above-Average Pace

Due to much improved moisture this year, the planting place for soybeans in Brazil is ahead of schedule. Nationally, soybeans are 1.9% planted, compared to the five-year average of 0.3%. Two of the largest soybean producing states, Parana and Mato Grosso, are both reporting above average planting paces, with Parana setting a record at 11.2% planted. Drought delayed planting in Brazil this time last year, but now that their growing regions have seen ample precipitation, planting is about 2 to 3 weeks ahead of where it was last year. An early soybean planting in Brazil means an early planting of second crop corn, which directly follows bean harvest, as well as an early start to exports being ramped up. This year, nearly 80% of all Brazilian bean exports have gone to China. Down in Argentina, the Buenos Aires Grain Exchange reports that corn is 10.7% planted and that planted hectares will increase by 300,000 to 5.8 million hectares. Soybean planting follows corn in Argentina, which has not begun yet.

Freeze Warning in Place for Nearly All Of North Dakota; Storms Forecast Over Weekend for E Iowa

The National Weather Service has placed a freeze warning for almost the entire state of North Dakota. Early morning temps were reported to be as low as the mid 20s. Spring wheat harvest is finished in North Dakota but soybeans are only 21% harvested and corn has just barely begun. The USDA Crop Progress report pegged North Dakota corn as only 65% mature. Thunderstorms are in the forecast for the weekend of parts of E Iowa and W Illinois, where low lying areas are already dealing with flooding. A second storm pattern may emerge early next week.

USDA Quarterly Grain Stocks Report Released Today At 11 CST

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

September 27, 2018 | Grain Hedge Insights | Kevin McNew | Views: 246

USDA Reports Excellent Export Sales This Week

Largest buyers of U.S. origin corn were Mexico, Guatemala, Japan and Egypt

USDA Reports Excellent Export Sales This Week

USDA Reports Excellent Export Sales for Wheat, Corn, and Soy Meal

For the period of Sep 14-20, the USDA announced corn export sales of 1,712,800 MT, well above traders expectations and last week’s strong number of 1,383,700 MT. The largest buyers of U.S. origin corn were Mexico, Guatemala, Japan and Egypt. Wheat sales also surpassed the expectations of analysts, coming in at 657,100 MT. This number is up 40% from the previous week and 59% higher than the 4-week average. Top buyers were Japan, the Philippines and Mexico.  Soybean sales came in the middle of the range of expectations at 870,700 MT, down only about 47,000 MT from the previous week. The largest buyers were Unknown destinations, Spain, and the Netherlands. Soy meal sales shot higher than expectations, 147,300 MT for old crop and 511,900 MT for new crop. Largest buyers of meal were unknown destinations, Guatemala, and the Dominican Republic.

Ethanol Production and Supplies Decrease, Oil Refiners Lobby Against E15

According to the Energy Information Administration, production of ethanol decreased by 15,000 to 1.036 million barrels per day for the week ending on Sep 21. During the same time period last year, ethanol production was only slightly lower at 1.033 million barrels per day. Stockpiles of ethanol also drew down last week by 117,000 to 22.629 million barrels. Last year, ethanol supplies were reported at 21.138 million barrels, showing a year over year build of 1.491 million barrels. The presidents of the American Petroleum Institute and American Fuel & Petrochemicals Manufacturers made a joint statement to President Trump to reject E15 waivers from being issued by the EPA. The two cited a potential for consumers to use the wrong type of fuel if E15 were made more available and could make the RIN market more favorable for biofuel producers.

More Rain on the Way for Flooded Areas of E Iowa and W Illinois

After receiving nearly six times the normal levels of precipitation over the past 10 days, E Iowa and W Illinois are expecting more thunderstorms to begin over the weekend. The NWS also warns that there may be a possibility of a frost to affect the area on Friday night. Further north in the Dakotas and Minnesota, overnight temps could fall as low as the mid 20s.

USDA Quarterly Grain Stocks Report Released Tomorrow at 11 AM CST

The USDA Stocks report will announce numbers for stocks of corn, soybeans, and wheat for the months of July, Aug, and Sep. Analysts expect just over 2 billion bushels for corn, 400 million bushels of soybeans, and 2.343 billion bushels for wheat.

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

September 26, 2018 | Grain Hedge Insights | Kevin McNew | Views: 384

China Set to Start Buying Argentine Soybeans

Argentina has resorted to buying soybeans from the U.S. to cover domestic crushers

China Set to Start Buying Argentine Soybeans

China Set To Start Buying Argentine Soybeans, As Argentina Buys More U.S. Soybeans

Oil World, an oilseed analysis firm, estimates that China will significantly increase their purchases of Argentine soybeans from Sep 2018 to Feb 2019. Oil World estimates 1.8 MMT of bean sales, compared to the same time period last year showing no sales of beans from Argentina to China. Argentina has a very large soy crushing industry and saw a very poor crop this past year so in order to cover the needs of domestic crushers, Argentina has resorted to buying soybeans from the U.S. Thus far, Argentina has bought 850,000 MT for the current crop marketing year and Oil World expects that number to nearly double to 1.6 MMT by Feb 2019. Argentina is the world’s largest exporter of soymeal but with the ongoing trade war between the U.S. and China and tight supplies in Brazil, the Argentines will export raw, unprocessed beans to be crushed in China.

With Deadline Looming, No Trade Deal Between U.S. and Canada in Sight

September 30 is the deadline that US Trade Representative Robert Lighthizer has set for the US and Canada to reach an agreement on updating and modernizing NAFTA. At this point, both parties have yet to come together on key issues and a deal by the end of the month seems distant. The Trump Administration will move forward with the bilateral deal reached with Mexico, with or without Canada, according to Lighthizer when he spoke to the US Chamber of Commerce. Canadian trade officials have agreed to make concessions on importing US dairy products but wish to see President Trump agree to abandoning all threats of tariffs, particularly against the Canadian auto industry.

Export Sales Announcement

Private exporters reported to the U.S. Department of Agriculture export sales of 650,387 metric tons of soybeans for delivery to Mexico during the 2018/2019 marketing year.

Freezing Temperatures Forecast in West, More Rain Expected for Iowa and Illinois

In parts of W Nebraska, W South Dakota, and W North Dakota, overnight lows are expected to dip down to the upper 20s F, as reported by the National Weather Service. Plants still growing may be at risk. In E Iowa and W Illinois, heavy rainfall over the past ten days has caused rivers and streams to flood and more rain and cooler temps are forecast for Friday.

Starting on Friday and into early next week, this area could see frost overnight, as well as heavy thunderstorms.

 

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

September 26, 2018 | Supplier’s Side | | Views: 255

EBM Manufacturing Strives for Continuous Improvement

Company continues to evolve as needs of the industry change

EBM Manufacturing Strives for Continuous Improvement

EBM Manufacturing is a family-owned business and can trace its beginning to 1976 when Clayton Ellsworth founded the company in Tilden, NE. His son, Guy Ellsworth, joined him full-time in early 1981 and they moved the company to Norfolk, Nebraska where it remains today. In 2012, Andrew Ellsworth followed in his grandfather and father's footsteps and started working full-time at EBM.

Tiffany Palmer, sales and marketing director, for EBM Manufacturing Inc., spoke with Feed & Grain about the company and its place in the feed industry.

Feed & Grain: Tell us the story of EBM?

Palmer: In 1977, EBM started manufacturing equipment for the fertilizer industry. Over the years, EBM Manufacturing has developed products for many industries, but primarily the feed, grain and seed industries. EBM Manufacturing has obtained several US patents in our quest for product development. The most widely known product is the Gentle Roll screener and newest product is an aspirator that can be used as a stand-alone, or in conjunction with the Gentle Roll screener.

F&G: What’s something unique EBM offers their customers?

Palmer: At EBM, we focus on providing solutions for our customers. Sometimes this entails thinking outside of the box. If a customer’s project is not straightforward, we try to approach it from a different angle which may mean a custom machine or pairing the Gentle Roll screener with our aspirator to meet their goals and expectations.

F&G: What inspires your company?

Palmer: The feed and grain industries are continuously evolving. This is an exciting, ongoing challenge for EBM as we strive to improve our equipment to not only meet but to stay ahead of the demands.

F&G: What is EBM known for?

Palmer: The Gentle Roll is our rotary drum screener and helped to shape what EBM Manufacturing is today. It is widely used in the feed and grain industry to clean grains and screen feed pellets. It has also ventured into other industries such as edible beans, pulses, pet food, and biomass. The gentle handling and screening efficiency & reliability set us apart from our competitors.

F&G: If you could get one message out to our readers, what would it be?

Palmer: From the initial project stages to the continued service, EBM Manufacturing focuses on putting our customers’ needs first. EBM fabricates products with longevity, serviceability, and efficiency in mind.  In short, EBM Manufacturing is worth the investment.


The Supplier's Side dives in-depth into the companies that service the feed manufacturing and grain handling industries. For any questions or comments, contact Steven Kilger at steven.kilger@feedandgrain.com.  

September 25, 2018 | Grain Hedge Insights | Kevin McNew | Views: 234

Corn & Soybean Crop Maturing Faster than Average

USDA Crop Progress report pegged corn maturity across the US at 72%, an increase of 18% from last week

Corn & Soybean Crop Maturing Faster than Average

Corn and Soybean Crop Maturing Faster Than Average, Harvest Makes Good Progress

The USDA Crop Progress report pegged corn maturity across the US at 72%, an increase of 18% from last week and well above the five-year average of 53%. Soybeans were reported at 71% dropping leaves, compared to the five-year average of 57%. Corn harvest is 16% complete, up 7% from last week and 5% from the five-year average. Illinois, Indiana, and Kentucky are making excellent progress so far. Soybeans are pegged at 14% harvested, an increase of 8% from last week. Illinois, Indiana, and the Dakotas all showed good harvest progress.

Export Sales Announcement

Private exporters reported to the U.S. Department of Agriculture export sales of 239,630 metric tons of corn for delivery to Mexico during the 2018/2019 marketing year.

Stricter Export Quality Checks and Stronger Rouble Dampen Russian Grain Exports

Following poor weather during the Russian wheat harvest in late August to mid-September, a Russian grain watchdog agency has implemented tougher quality checks for grain bound for export. The group, Rosselkhoznadzor, wishes to ensure that only the highest quality grain is shipped to large trading partners such as Vietnam, Egypt, and Indonesia. This comes as a response to increased complaints of pests being found in shipments of Russian grain. Furthermore, the Russian rouble has risen to its highest level against the US dollar in six weeks. As a result, Black Sea wheat has increased by $5 to $220 per metric tonnne.

Thunderstorms Forecast For E Iowa, W Illinois Today, More Rain In East and Mid-South

The National Weather Service is forecasting severe thunderstorms over E Iowa and W Illinois today. High winds of up to 70 mph and large hail remain possible, and even tornadoes. Areas in low-lying areas near creeks and streams are also at risk of flooding as nearly six times the normal precipitation has fallen in the past week. Several inches of rain are also in the forecast further to the east along the Ohio River Valley, falling over S Indiana, S Ohio, Kentucky, and Tennessee.

 

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

September 24, 2018 | Monday Mycotoxin And Crop Report | | Views: 349

Monday Mycotoxin & Crop Report for September 24

This week features new reports of aflatoxin, fumonisin and DON in corn; devastation in the Carolinas wreaked by Hurricane Florence; and a mycotoxin highlight from the University of Arizona’s Dr. Duarte Diaz.

Monday Mycotoxin & Crop Report for September 24

This week features new reports of aflatoxin, fumonisin and DON in corn; devastation in the Carolinas wreaked by Hurricane Florence; and a mycotoxin highlight from the University of Arizona’s Dr. Duarte Diaz.

 

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