The USDA's next wave of reports due out June 28th. Informa released some estimates today. Informa estimated corn planted acreage at 95,262 (thousand acres) VS USDA's March estimate of 97,282 down 2,020 from the March USDA estimate. Spring wheat planting estimate was down 910 from last month's estimate and Durum was unchanged. September futures closed at $7.1425. China bought 200tmt of French wheat. Argentina wheat prices are rising due to concerns over reduced plantings and bad crop weather. Domestic demand in Argentina being strong coupled with less than expected domestic production, export permissions being granted, poor yields in the U.S., Russia, and Australia reserves are thin. Flour millers are nervous. ;)
Starting July 1, 2013 initial barge freight will change to: 28 cents off at The Dalles; 29 cents off at Biggs; and 31 cents off at Arlington. Barge surcharges will decrease.
Initial freight and surcharge changes will be adjusted for on your settlement sheets beginning July 1, 2013.
**Remember handle is still 10 cents off at all locations (total freight and handle will be: 38 cents off at The Dalles; 39 cents off at Biggs; and 41 cents off at Arlington)
Current initial barge Freight is 23 cents at The Dalles; 24 cents at Biggs; and 26 cents at Arlington. (again note handle is 10 cents at all locations making total freight and handle 33 cents TD; 34 cents Biggs; 36 cents Arlington)
Biggs Barge will be closed June 17th through June 21st due to upgrades. Biggs will be open for truck traffic again on Monday June 24th.
Harvest 2013 check list:
Truck inspections - will need to be done.
Farm ID maintenance - are your splits up to date?
Entity names - have you added any entity names or changed how you are doing business?
Contract Haulers - please let us know at the office if you will be using a contract hauler.