Wednesday, August 1, 2012

General Update

Well the Commission started its fifty first year today and it is in a new very efficient building which has an educational center designed to work for the farmer. We had our first out of state visitors today.

We had the ribbon cutting for the building yesterday and had about 300 folks here.

The drought continues to persist and promised rain never materialized yesterday.

The Midwest drought is about to impact us next year.

Chances are good we will fill the pipeline this year and no contracts will come close to those which will be offered for corn and soybeans. So next year we will likely short the market at planting.

My advice to a farmer is to put uncommitted peanuts in the loan after January 1 and wait the market out. I really think we are in a two year cycle and have to have vision further than the current marketing year.

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