The past two weeks were much like the two prior — hauling soybeans to the processing plant when the weather would allow, with the added entertainment of listening to the local sports radio guys go crazy about the Chiefs being in the Super Bowl. I am very glad they won.
Everything in our area remains a muddy mess. Now that a good portion of the beans are hauled in, I have been getting started on maintenance work. Nothing exciting there — new planter parts, vehicle work, and working on some things in the house for starters. The driveways are a disaster and will need work once everything dries out and gets warmer. We do not have any livestock, and I wonder just how unpleasant it must be for people doing that in the same conditions. We did not have any growing up, and the little experience I did get with cattle while helping others was in the summer. We talk about adding some animals once the kids are older, and if we do, I’m sure it will be an adventure.
I have heard many people smarter than me talk over time about how the physical grain market has two signals — futures prices tell you when to sell, and basis tells you when to deliver. Right now may not be a great time to be selling (or it may be, depending on one’s costs), but it has been a good time to set basis and deliver on contracts. Local basis has again continued tightening: corn +0.05, soybeans -0.37, hard red wheat -0.05, and basis for soybeans at my delivery point in Kansas City is currently +0.05. — Ryan Johnson