News

 

March 19, 2020

 

 

Notice to StateLine Cooperative members and customers,

 

StateLine Cooperative understands the importance of doing everything we can to ensure the safety and health of our customers and employees, particularly as we approach a critical time in agricultural production. StateLine also understands the need to maintain business operations to ensure you are able to continue to market grain, order feed and crop inputs in a timely manner.

 

StateLine, like most businesses in the area, are taking additional steps to ensure the safety and health of our customers and employees. This includes eliminating business travel and group meetings, asking employees to self-quarantine when appropriate, and social distancing.

 

In our effort to support social distancing, we are immediately implementing a reduction of access to our offices to help mitigate the risk of spreading COVID-19. We will only allow office visitors who have official business to conduct with our staff.

 

We also encourage you to use the phone, fax, mail, email or other electronic means as much as possible to conduct business with StateLine. We will make every effort to continue to provide you with the products and services you need in a timely manner to maintain your farming operations, while providing for the safety and health of you and our employees.

 

Please monitor our web site for additional information and operational notices regarding the rapidly changing environment we are all working and living within.

 

Thank you for your understanding and support in controlling the spread of the virus.

 

Bill Beukema, CEO

StateLine Cooperative

 



Futures
Quotes retrieved on June 06, 2020, 08:41:45 PM CDT



SLC Commentary

STATELINE COOPERATIVE’S AFTERNOON COMMENTS JUNE 5th

Corn North Burt: up 2 @ $2.99

 

The corn market drew support from a technical point, especially after the July contract pushed through the $3.31 resistance level. Funds still hold a decent short position in the corn market. Prices were capped from a stronger US$ and a bout of short covering ahead of the weekend.  

  • Closes: July at $3.32 ½, up 3 ½ cents, September at $3.36 ¾, up 3 ½ cents, December at $3.46, up 3 ¼ cents.
  • July pushed through the $3.31 level on continued short covering and managed to hold above that level.
  • Crop conditions were reported at 74% G/E last week with ideas that we will see conditions at that level (if not better) from this week’s weather conditions.

Soybean steady @ $8.15

Soybean prices were stronger on strong demand for US beans.  Farmer selling has been light up to this point. There was a pick-up in farmer selling yesterday and today.

  • Closes: July at $8.68 ¼, up ½ cent, August at $8.70 ¼, up 1 ½ cents, November at $8.80, up 3 ¼ cents. Products were mixed with meal down 50 cents and oil up 44 points.
  • Brazil soybean supplies dwindle down and the turnaround in their currency has slowed selling interest.
  • Crop conditions were 70% G/E last week with expectations that we will see an improvement in Monday’s USDA crop progress/conditions report. 
  • Planting progress was at 75% complete last week. Decent progress was made this week with little or no rain events across the US Midwest.  Planting progress expected to be near 90-95% complete by Monday.
  • The USDA announced the sale of 330k tonnes of soybeans to unknown destinations (196k for this year and 134k for next year).
  • The USDA also announced the sale of 258k tonnes of beans to unknown destinations (60k for this year and 198k for next year).

 

 



Forecast
Burt, Iowa (50522)
Current Conditions Sunny
Temperature 79°F
Dew Point 57°F
Pressure 29.92 in. Hg
Humidity 48%
Wind 14 mph
From East


Forecast



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