Daily Market Commentary
3-15-2024
Higher Brazil soybean shipments to China have reduced supplies available to other buyers, presenting new opportunities for U.S. exporters to backfill markets supplied by Brazil last year, while also enabling U.S. trade to further support record demand in Mexico.
Per China Customs data, Brazil corn accounted for nearly 85 percent of imports between September and December 2023. Brazil’s marketing year (Mar-Feb) exports remain forecast at 52.0 million tons, posing competition for U.S. corn trade in 2024/25.
Record U.S. corn production and large inventories have contributed to a nearly one-third decline in U.S. corn export prices from a year ago, increasing U.S. competitiveness and supporting forecast exports in 2023/24.
The market is range bound until there is more definition. The month-end stocks and planting intentions are the major items being monitored to see what direction the market will turn. Weather in the U.S. and Brazil are other key items to be watch.
Adequate stocks remain unsold on U.S. farms. Many firm offers and an increase in selling farm production is taking place.
Call Farmers Union for marketing opportunities. Ask about Premium Plus contracts.
John R. Anderson
Vice President of Grain
Farmers Union Cooperative
563-380-2311
Managing risk to optimize price
Grain and oilseed markets can be complex and fluid, and the best opportunity one minute can change in the next. The grain team at Farmers Union Cooperative is here to provide a strategic, forward-thinking approach to marketing that will help you manage volatility and realize a better overall outcome from your grain sales.
Because of our geographic location, we have several choices in where we sell grain. This provides us with unique opportunities to market your grain and diversify your portfolio to manage risk.
We often work with our farmer-members to put together sales to achieve a better price. Whether you sell to us, a processor, or a river terminal, we’ll help you capture a better price with delivery terms that work for you (whether you deliver or utilize our services).
Our facilities
We have facilities in Ossian, Fort, Postville, Waucoma and Manchester that receive corn, soybeans and oats. Our West Union location handles corn only.
Grain delivered to our feed mills is used in the area as livestock feed. You can also utilize our grain bank service for your own feed needs.
We make regular investments in our facilities to ensure a smooth unloading process, and we have storage of around 5 million bushels.
During the busy fall season, we flex our hours to keep grain moving and get you back to the field as soon as possible.
Farmers Union Grain Contacts
For more information on any of our grain services, contact Farmers Union’s grain team:
Brian Anderson
Location Manager/Safety Manager
Brian Anderson
Location Manager/Safety Manager
John Anderson
VP of Grain
John Anderson
VP of Grain
David Klein
Merchandiser
David Klein
Merchandiser
Taylor Kusterman
CEO
Taylor Kusterman
CEO
David Schneiter
Location Manager
David Schneiter
Location Manager
Farmers Union Grain Locations
Cash Bids
Futures
Grain Programs
We offer numerous specialized marketing contracts that help spread risk and take advantage of opportunities when they arise. Please talk to us about your objectives, and we’ll work with you to choose contracts that fit your risk tolerance and profit goals.
In addition to grain contracts, we offer services such as discounted drying at the beginning of the fall season. We also can do on-farm pickup with our trucks, and we can deliver to direct-ship locations at your request.