Station Manager - Lynn Haagenson Leeds Location - Ph. 701-466-2231
Seed House Manager - Dale Elverud Leeds Seed House Location - Ph. 701-466-2070
BTR Farmers Coop will not accept grains, oilseeds or wheat containing transgenic events not approved for U.S. export markets; such markets include Canada, China, South Korea, the European Union, Japan and Mexico.
Closing Market Comments
Corn: Values bouncing after yesterday's sharp losses. Weekly ethanol production higher than last week. Ethanol stocks declining week to week. Rain again spread over the US grain belt Friday to further slow field work. Planted crops however benefiting from adequate to even surplus topsoil and subsoil moisture. The June 30 stocks report could have a dramatic impact on price ideas for the remainder of the year and into next. Trade estimating a record large portion of next year's crop unsold. That said, many producers are indicating a belligerent stance willing to build additional storage to hold this coming crop. Soybeans: Values sagging by midday with talk of ongoing Argentina soy crush worker strike moving towards a solutaion. Argentina Rosario Port activity reportedly halted for the seventh day. A large number of vessels waiting to load meal and soybeans there. Rain spreading across the US grain belt will further slow planting into next week. Forecast next week however looks warmer and drier. Wheat: A choppy session with Egypt buying 240,000 tons of wheat from Romanian and Russia at well discounted levels. US SRW basis moving higher with ideas of production losses in the US due to wet conditions in the eastern corn belt and the Southeast. Trade forecasting some shower activity for dry Canadian areas. Models are divergent on rain cahnces for dry southern Russia areas. Trade watching dryness in Germany and Poland. More rains forecasted to plague US HRW areas.