Friday, October 29, 2010
Hello from RUC!
What a change in a week! We went from summer to “winter” in a day. We are so fortunate to have as much of the crop combined as we do. Our area received around 2 inches of rain on Tuesday & Wednesday, but no snow! The weather forecasts looks like it will allow us to get back into the fields next week. Hopefully we can wrap up our harvest in the next couple of weeks.
One thing I miss about Halloween of years past is “helping” my boys separate their candy. It was so much fun and they would even share with Dad some of their treats. Now I’m just on the candy-giver-outer!
The November crop report is scheduled to be released November 9th. There will some “private” reports out next week ahead of UDSA’s. The November 9th report is certainly setting up to be a “biggie”. Will they reduce the corn crop more? Increase it? It’s going to be fun!
If you were one of the “slow-pokes” who didn’t rake their leaves, you came out a winner this week. With the winds we had, their leaves ended up in Hillsboro. No raking needed!
China has rejected a cargo of U.S. corn after finding it contained an unsanctioned genetically modified strain. China only allows 11 varieties of GM corn to be imported to the country, and the cargo was found with GM material outside the 11 varieties. China's first ever rejection of a U.S. corn cargo, if confirmed, risks deepening a trade spat with the United States and a bigger diplomatic row with Japan. Chinese corn imports have rocketed this year, and are expected to continue growing next year, after China's own harvest couldn't keep up with a boom in demand, mainly driven by production of corn-based animal feed.
It was unclear if the rejection of a cargo on GMO grounds would have a wider impact on the corn trade. China has long used its tough rules on GMOs to keep U.S. corn out of its market, the world's second biggest. But, struggling to keep up with demand, it gave its first safety approval to a GMO strain of corn late last year and began importing again this year, the vast majority of it from the United States. We’ll have to wait & see what, if any impact this has on the US corn exports particularly to China.
For the first time in nearly three years, the People’s Bank of China raised their one year lending rate by 25 basis points in an attempt to slow their inflation. As a result, the US dollar rose to its highest level in two week. Likewise, we saw a $1.25 hit in the price of crude oil and a $15 per ounce hit in the price of gold. Despite all this, there is still an unconfirmed rumor that China bought 3 to 5 cargos of soybeans from the US this week. We will have to wait to see if this gets confirmed. As a side note, we do know that Mexico came in to the market and made a large purchase of US corn last week.
After all of their drought problems this year, Ukraine adopted a resolution last week to put a 2.7 million metric ton limit on grain exports for the rest of 2010, consisting of a 2.0 mmt limit for corn, a 500,000 mmt limit on wheat, and a 200,000 mmt limit on barley. The export limits are an attempt to minimize shortages in their country over the coming month.
Now that almost all the crop is harvested it’s time to focus on marketing both the 2010 crop and 2011 crop. Call us!
Our grain prices continue to strengthen. Corn is @ $4.67, up $.32 for the week. Soybeans closed @ $11.06, up $.36 and wheat (the winner) is @ $6.87, up $.67. Impressive!
I wonder where my wife hid the Halloween candy? I will find it before Sunday night.
Sometimes we don’t realize how perceptive our children are. We need to give them more credit and teach our kids by example, knowing they see how we live our lives and are influenced by our actions. Enjoy………….
When You Thought I Wasn't Looking
"When you thought I wasn't looking, I saw you hang my first painting on the refrigerator, and I immediately wanted to paint another one.
When you thought I wasn't looking I saw you feed a stray cat, and I learned that it was good to be kind to animals.
When you thought I wasn't looking, I saw you make my favorite cake for me and I learned that the little things can be the special things in life.
When you thought I wasn't looking I heard you say a prayer, and I knew there is a God I could always talk to and I learned to trust in God.
When you thought I wasn't looking, I felt you kiss me good night and I felt loved and safe.
When you thought I wasn't looking, I saw you take care of our house and everyone in it and I learned we have to take care of what we are given.
When you thought I wasn't looking, I saw how you handled your responsibilities, even when you didn't feel good and I learned that I would have to be responsible when I grow up.
When you thought I wasn't looking, I saw tears come from your eyes and I learned that sometimes things hurt, but it's all right to cry.
When you thought I wasn't looking, I saw that you cared and I wanted to be everything that I could be.
When you thought I wasn't looking, I learned most of life's lessons that I need to know to be a good and productive person when I grow up.
When you thought I wasn't looking, I looked at you and wanted to say, "Thanks for all the things I saw when you thought I wasn't looking.'"
Happy Halloween, everyone.
If God brings you to it he'll bring you through it.............