April 22, 2019

Archives for September 2012

MicroEssentials Fusion Technology Explained

MicroEssentials new Fusion technology provides the next generation of fertilizer. Learn how Fusion provides uniform distribution across your field in the precise ratio needed.

 

Increase Phosphorus Uptake with MicroEssentials

Learn how to increase the phosphorus uptake in your crop and get improved early plant growth with MicroEssentials.

 

MaxYield to continue reduced rate corn drying charges

MaxYield Cooperative announced today that they will extend our reduced rate corn drying charges through the end of harvest. A summary of the changes are below:

 

  •     Corn drying charge has been lowered to 2.75 cents per point for corn delivered in September.
  •     Minimum service charge on Price Later soybeans has been lowered to 12 cents for first 90 days. (was 21 cents)
  •     Minimum service charge on Price Later corn has been lowered to 15 cents for first 90 days. (was 21 cents)

For more information, check out our grain polices, here or contact your MaxYield location.

 

 

Why your plants need increased sulfur

Learn how MicroEssentials can provide the increased sulfur and balanced nutrients your crop needs for optimum growth.

 

Seed Is the New Agronomy: Why MaxYield Seed Matters to You

MaxYield SeedWhen Rick Hurley purchases corn and soybean seed, he knows he’s unleashing a domino effect regarding yield potential.

“It goes beyond the seed,” said Hurley, who farms in the Mallard area with his son, Kyle. “Everything you do creates a chain reaction on down the line, so having good information is a must.”

That’s why the Hurleys purchase much of their corn and soybean seed, including hybrids from CROPLAN GENETICS, Asgrow®, and DEKALB®, from MaxYield Cooperative. Rick likes working with MaxYield Seed Solutions Specialist Kurt Metzger, who helps the Hurleys match the right hybrids to their soil types and soil fertility levels.

“I also like the fact that Kurt follows up with us and checks the crop throughout the growing season through harvest,” said Hurley, who participates in SciMax Solutions. “I appreciate his overall knowledge of seed and agronomy.”

Delivering the solutions behind the seed

Properly placing a bag of seed requires an immense amount of knowledge about each acre, said Keith Heim, MaxYield’s CEO. That’s why MaxYield has introduced its agronomy division as MaxYield Seed.

“Crop production has changed. Seed, crop protection products, and fertilizer recommendations are so intertwined today that they are inseparable. Seed has now become the lead that drives MaxYield’s total agronomy business.”

This means that:

• We’re focused on maximizing your crop’s yield potential. Did you know that today’s corn genetics have the potential to produce up to 500 bushels per acre, while soybeans have the potential to yield 100 bushels per acre? Helping you produce the maximum yield from your seed is MaxYield’s goal. While our agronomy department will now be called MaxYield Seed, count on us for solid fertilizer and crop protection recommendations, as well.

• You’ll see the same familiar faces. Even though we’re now called MaxYield Seed, you’ll still work with the same MaxYield experts you trust. Establishing our business as MaxYield Seed is simply a refinement that will help us become a better business partner for you. Count on us to scout your fields with you throughout the growing season to analyze plant populations, pests, and diseases and find solutions that put more bushels in the bin. “It’s not just about selling a bag of seed,” said Larry Arndt, MaxYield’s sales and marketing team leader and agronomy team leader. “Great agronomy is knowing how to maximize yields after you plant the seed.”

• Local data drives our recommendations. MaxYield Seed has compiled an extensive database from local field trials through the years. This gives our team the ability to place seed with precision. We continue to expand this database with additional field trials to make the information as valuable as possible for you. “Yield data from three years ago is ancient history,” Arndt said. “Having the latest data from our area helps us become better students of our clients’ acres, so we can provide the right solutions for our clients’ unique needs.”

• Education remains vital. From the ground truth information we collect through SciMax Solutions to the precision ag tools available through Monsanto and our other seed partners, we can offer you a wealth of knowledge through MaxYield Seed. We’ll host multiple seed meetings throughout the year to discuss the latest updates in seed genetics, crop protection products, fertilizer, and more. “We’ll help sift through all the data overload to share the most valuable, powerful information that can make a difference to your bottom line,” Arndt said. Hurley appreciates MaxYield’s revamped, solutions-based focus on seed and agronomy. “We’re always trying to find ways to do things better. We like working with MaxYield, because we’re learning something new all the time.”

 

Jake Mullenix…Goes With the Grain

Jake Mullenix - MaxYield CooperativeWhen Jake Mullenix came to MaxYield, he made it clear he wasn’t afraid to work hard. In fact, one of the first things this 20-year-old Iowa State University student from Bloomington, IL, wanted to know was how much overtime he could get. His willingness to immerse himself in his internship has helped him learn a great deal about grain operations.

Q: What inspired you to study agriculture in college?

A: When I was growing up, I’d stay at my grandparents’ farm near Red Oak for two or three weeks each year. I really enjoyed working with Grandpa. By the time I finished my freshman year of high school, I knew I wanted to go into agriculture.

Q: What have you enjoyed about your MaxYield grain internship?

A: Since I’m a grain operations intern, I’ve been based in Belmond, where I’ve gotten to do a lot of different kinds of work. I helped move grain from the bunker to the elevator, learned how grain is blended, helped load a train, helped with safety training, and updated MaxYield team members on the progress of the new grain bunker. I also had the opportunity to job shadow different positions on the train crew. It was also neat to tour AGCO’s facility in Jackson, MN.

I like the flexibility of my internship. If there’s something I want to learn more about, the MaxYield team members make it happen.

Q: How have you benefited by having Pat White and Walt Reichert as your mentors at MaxYield?

A: Whenever I have any questions, I can ask Pat or Walt. They’ll either have the answer, or they will find the answer. Everyone at MaxYield is friendly and helpful, and I’m glad I’ve gotten to know them.

Q: What are your career goals after graduation?

A: I don’t know exactly what direction I want my career to go after graduation, but I have a lot of options with my ag business major.

Interesting facts about Jake:

• Jake’s dad, Will Mullenix, worked for MaxYield about eight years ago as an agronomy specialist.

• Jake is a legacy student at Iowa State University (ISU), since his father and grandfather also studied there. Jake, who received a scholarship from ISU, will be a junior when he returns to college this fall.

• Jake earns extra money at the ISU dairy farm, where he works with the livestock and helps clean the barns.

 A Minute With MaxYield Mentor Pat White

Pat White, MaxYield’s eastern area team leader, was excited to have a grain operations intern this year. “I’ve enjoyed the chance to mentor Jake in grain operations. I’ve tried to give him opportunities where he’ll learn the most about the grain business.”

In addition to working with MaxYield team members, Jake has had the chance to interact with many MaxYield clients, said White, who appreciates Jake’s sense of humor and his willingness to learn. “My team and I have learned a lot from Jake, too, and really appreciate the fresh set of eyes he brings to MaxYield.”

USDA to change key report times in 2013

MaxYield’s Karl Setzer’s thoughts on USDA’s announced change are in this Reuters story.

(Reuters) – The U.S. Department of Agriculture on Wednesday said it will shift the release time for major crop reports to 12 p.m. Eastern Time (ET), starting in January, from the current time of 8:30 a.m. ET.

The move marks the first change in release time of USDA reports since 1994.

The new release time applies to USDA’s monthly U.S. Crop Production report and its companion report on crops around the globe, the World Agricultural Supply and Demand Estimates; the quarterly Grain Stocks report, issued in March, June, September and January; the Prospective Plantings report in March, the Acreage report in June and the Small Grains Summary in September.

The time for livestock reports, currently released at 3 p.m. Eastern, will not change.

The grain reports are closely monitored by the global grains trade. CME Group (CME.O), parent of the Chicago Board of Trade, told USDA in a letter in July that CME would move the start time for its open-outcry grain trading back to 9:30 a.m. Central on report days if USDA started issuing crop reports between 10 a.m. and noon Central.

CME did not immediately respond to a request for comment on Wednesday.

COMMENTS ON USDA’S ANNOUNCEMENT:

JOE BEDORE, CBOT FLOOR MANAGER, INTL-FC STONE:

“We’re elated, the whole trading floor is just elated with this decision. The early release time just wasn’t working.”

ALAN BRUGLER, PRESIDENT OF BRUGLER MARKETING & MANAGEMENT:

“I don’t think it makes a whole lot of difference from what they’ve recently been doing. We’re still faced with the release during the trading session…. Probably USDA employees are the winner. The lock-up guys are probably not going to have to be there all night now.”

RICH FELTES, VICE PRESIDENT OF RESEARCH FOR R.J. O’BRIEN:

“This only leaves three hours to trade the numbers. I would have preferred that they come out a little earlier in the morning. It’s a move in the right direction, but I’m a little surprised that they moved it to so late in the day.

“On crop report days, the first four or five hours that people are at their desks, it’s going to be a pretty slow morning. Most of the people that I talked to in the industry were pushing for a 10:00 (a.m.) Eastern release.

“Certainly, this is not going to be popular with European traders who are going to be staying later. It’s certainly a boon for the West Coast traders.”

DON ROOSE, PRESIDENT OF U.S. COMMODITIES:

“From a traders’ standpoint, you are still going to have to react on the fly. They are saying that it (releasing reports during market hours) has not caused a huge disruption in the price discovery and so we will stick with it, but we will move it to an hour that is more comfortable for the U.S. traders and the world can still participate too.”

ROY HUCKABAY, EXECUTIVE VICE PRESIDENT, THE LINN GROUP:

“They are trying to capture as much as of the trade reaction during market hours for the CME so as not to miss any contracts traded.

“The fact that the ICE exchange (ICE.N) extended its hours to 22 hours a day and put trade into the time frame around the original times of the crop reports created a problem for the Merc.

“They should have gone to the CFTC and said, ‘OK, here’s the problem, fix this.’ … Now the USDA has agreed to release the reports at 11 a.m. (Central time), when everybody is on the floor trading.

“What they are missing is that it doesn’t give the trade time to analyze the report, and create trade that is lasting. The Merc does not care because we are no longer driven by price discovery.”

KARL SETZER, MARKET ANALYST, MAXYIELD COOPERATIVE:

“I do not see that being any different than releasing them the way they were. You are going to see the reaction 3-1/2 hours later than what we did before is all. This really does not accomplish anything at all. The open outcry will probably go back to opening at 9:30 a.m. on report days, but as far as trade reaction and how the reports get traded, I do not think you will see much difference.”

SHAWN MCCAMBRIDGE, GRAINS ANALYST AT JEFFERIES BACHE:

“What they’re doing is looking at the U.S. users of the data and, with us trading from coast to coast, this will improve the timing of the release across the country. That’s the only thing I could really see changing anything.

“We’ll still be seeing the report in the session. Before when we were releasing it at 7:30 a.m. (Central) and we weren’t starting to trade until 9:30 — even if you didn’t see the release at 7:30, you could get in and take a look (before trading started). That must not have been an overall concern.”

NATIONAL GRAIN AND FEED ASSOCIATION:

“The USDA announcement of a noon Eastern time release of major U.S. crop production and stocks reports is consistent with comments submitted by the NGFA recommending that such reports be made public at a time of day when futures liquidity is deepest, thus helping to minimize any potential added volatility.”

“The NGFA also has recommended a pause in futures trading around report releases in order to allow equal access of all market participants to report data and to allow for a rational analysis of the data. We look forward to continuing that discussion with futures exchanges, regulators and other stakeholders.”

JOE OCRANT, PRESIDENT, OAK INVESTMENT GROUP:

“The change will affect us as cattle traders because on days when there is going to be a major grain report, we’ll tend to lighten up our positions about 15 minutes before the data is released as we currently do.

“You don’t want to get stuck with a big long or short position in any of the deferred cattle and hog markets and have the report come out and hurt your positions.

“Feeder cattle are more directly impacted by the sharp moves in corn because it affects their input costs versus what they sell their cattle for to packers.”

(Reporting by Mike Hirtzer, Julie Ingwersen, Sam Nelson, Karl Plume, Tom Polansek, Theopolis Waters and Mark Weinraub; editing by Jim Marshall and Marguerita Choy)

 

Spring bean price jump may be likely

MaxYield Cooperative grain analyst Karl Setzer offers his thoughts in this article that first appeared at www.IowaFarmerToday.com.

By Tim Hoskins, Iowa Farmer Today
With current demand usage, one grain marketer says it is possible soybean prices may jump next spring to $20-25 per bushel.

Despite the sell off in soybeans earlier this week, the long-term fundamentals for beans look strong, especially into next spring, notes Karl Setzer, MaxYield Cooperative grain solutions team leader in West Bend.

He says the selloff earlier this week was started when China announced it would release 3½ million to 4 million metric tons of beans from its reserve.

“That signaled the market that China thinks it has enough beans.”

Then weather reports showed more rain across South America as farmers there start planting beans. Those two factors triggered sell stops in the bean market.

Setzer notes the wheat market also dropped as Australia got rain to replenish its soil-moisture levels. He says September is typically a tough month for commodities futures markets as harvest hedges and basis pressure hit the market.

Corn harvest pressure is hitting the market hard as earlier harvest has added pressure, Setzer says. He thinks corn will trade between $7-$8/bu. for awhile because there is less room for the market to fall but there is less support.

As farmers switch to soybeans, he expects the harvest hedge and basis pressure to switch from corn to beans. However, he thinks the price pressure on beans will be short-lived.

“If we didn’t ration beans at $18 per bu., I don’t think they will get rationed at $15-17/ bu.”

Setzer compared this year to 1973. He says bean prices could be higher especially given at current use rates, the United States could run out of exportable soybeans by the end of the March.

He says a U.S. trade embargo and early South American soybeans entering the global market are two factors that could prevent higher bean prices in the spring.

MaxYield recognized for Clay County 4-H support

MaxYield Cooperative and 4-H

From left: Bonnie Dalager, program director; Anissa Jeppson, youth coordinator; and Jo Engler, program coordinator for Clay County Extension and Outreach. Accepting on MaxYield’s behalf is Tracy Enderson.

MaxYield Cooperative, and many other stakeholders, were recognized for our support at a luncheon held Friday, September 14th at the Clay County Regional Events Center in Spencer, IA.

Clay County Extension and Outreach hosted the event, recognizing businesses and individuals that played a key part in the success of special interest area 4-H programs. MaxYield Cooperative pays $10 of the 4-H membership fee, contributing over $15,000 every year in six Iowa counties to the youth organization.

With the support of many in Clay County, most of the special interest 4-H programs were free. Project areas include animals, creative arts, agriculture & natural resources, family & consumer sciences, personal development and science, engineering & technology.

MaxYield is a long-time supporter of 4-H and its programs.

 

 

Corn, soy harvest advances at record pace

By Sam Nelson and K.T. Arasu

CHICAGO | Tue Sep 18, 2012 3:35am IST

(Reuters) – The world’s largest corn and soybean harvest advanced at a record pace in the United States last week that exceeded trade expectations, U.S. government data showed on Monday, when harvest pressure tumbled Chicago grains futures.

The corn harvest was 26 percent complete as of Sunday, the Department of Agriculture’s weekly crop progress report showed, compared with expectations for 24 percent based on a Reuters poll of 11 analysts, and up from 15 percent a week ago.

Farmers also harvested 10 percent of the soybean crop in the world’s largest grains exporter, compared with expectations for 9 percent, and up from 4 percent the previous week.

The fast pace of the harvest could put more pressure on prices in the cash market as farmers sell more of their grains, especially corn, due to concerns over diseases such as aflatoxin that could hurt quality.

“These are extremely rapid harvest paces,” said Karl Setzer, a commodity trading advisor with MaxYield Cooperative in Iowa.

“In all reality, the harvest could be over by the end of September or first week of October,” he said, adding that the harvest was running about 30 days ahead of normal.

Farmers planted their crop this year at a record pace after one of the mildest winters on record, but the weather dried up leading to the worst drought in half a century devastating the corn and soybean crops this year.

The USDA forecast in August that this year’s corn crop will be the smallest in six years and soybean production the smallest in nine years due to the drought.

The drought pushed corn and soybean futures at the Chicago Board of Trade to record highs this summer, but markets have since come off their peaks after several revisions of the crop size by the USDA. On Monday, anecdotal accounts of yields being better than expected tumbled grains futures.

Setzer, whose cooperative works closely with farmers in the Midwest, said producers sold significant amounts of corn when prices hit $8 per bushel and also out of fear supplies might be tainted by aflatoxin.

CBOT December corn fell 4.3 percent to settle at $7.48 per bushel, while November soybeans fell by the daily trading limit of 70 cents to $16.69 per bushel.

USDA data showed the corn harvest in Illinois, typically the No 2 corn state, was 36 percent complete as of Sunday, up from 21 percent a week earlier. In top corn state Iowa, the harvest was 22 percent complete, up from 10 percent.

For soybeans, the harvest was just kicking off in Iowa and Illinois, with 6 percent and 3 percent complete, respectively. The southern harvest was past mid-point, with Louisiana at 52 percent and Mississippi at 58 percent.

(Editing by Maureen Bavdek and Andre Grenon)