3/17/23 – This week Jeff and I finish the short series on South American grain production, by wrapping up our discussion about Argentina… today we highlight historical moves in corn and soy production, and the demand picture for their crops. 2/24/23 – Using your Bean to Market your Grain – this week is part 2 of our discussion on crop production in Brazil. This week Jeff tells us about production changes for corn and soybeans over time in Brazil, and also how the country utilizes the grain it produces… and how the country has become an increasing competitor in the world market. 2/17/23 – Using your Bean to Market your Grain – This week we start a series on the cropping systems of South America. Jeff and I will first cover Brazil…. this week we go over the weather patterns of the heart of cropping country in Brazil, when crop are planted and harvested, and how this has changed over time…. part 2 of Brazilian crop production comes next week talking about production capacity. 2/10/23 – Using your Bean to Market your Grain – today we wrap up our conversation of using tools to trigger sales of grain. So far we’ve covered the seasonality and profitability as triggers, this week we bring in the concepts of price targets and “the technicals” as what to use to make grain sales…. Jeff also highlights how you can use some of these in tandem to beef up your confidence in selling grain. 2/3/23 – Using your Bean to Market your Grain…. Continuing our conversation of the last few weeks…. now that we have USDA data that we can get a sense of the value of our grain compared to similar supply and demand situations of the past, we can now decide what is it going to take for you to trigger a sale of corn or soybeans. Jeff Peterson describes two of these triggers this week, including profitability and seasonality…. we’ll cover 2 more triggers next week. 1/27/23 – Using your Bean – This week we talk soybean value… Jeff takes a look at the most recent USDA supply and demand information and compares that to where prices were in similar situations in the past. The number might surprise you, but it’s not the only indicator as you make your grain marketing decisions. 1/20/23 – Using your Bean to Market your Grain – this week we take the information from USDA’s reports last week to craft a set of data points, and from that data we can compare where prices are now as to where they’ve been in similar situations in the past. This information gives us the confidence to dive into our marketing plan and price some bushels. 1/13/23 – Featuring Jeff Peterson, Heartland Farm Partners in Lincoln….discussing the USDA reports from Thursday Jan 12th, pulling out the useful information, and using the data to help implement our marketing plan. 1/6/23 – Using your Bean to Market your Grain – Jan 6 – Topic today is a preview of the data dump from USDA set for Jan 12th… That day USDA will released the final production numbers for ’22 corn and soybeans, the updated WASDE report, and the quarterly grain stocks report…. Jeff tells us which numbers could change in these reports based on what we currently know, and why it’s important to key on these reports based on what we need to do with our marketing plan. 12/30/22 – Using your Bean – This week we follow up on last week’s conversation and talk about how to get some bushels priced. If you remember last week, Jeff indicated there are some signals in the market that are telling you it might be a good idea to get some grain priced. Once you’ve dusted off your plan and see how far along you are, then it’s time to decide how to price the grain and do so with confidence. 12/23/22 – Using your bean – this week we take status of our marketing plan…. where should we be by now on marketing old crop bushels….what are the signals telling us to do with our remaining grain…. and what are the signals telling us about new crop grain marketing…. Jeff also shares his Christmas message with us this week…. Merry Christmas! 12/16/22 – Using your Bean – this week we unpack a few things around corn and soybean demand…. what is predicted vs. what is actually happening in terms of exports…. how does domestic usage stack up…. and what will impact these numbers moving into 2023…. also discussion about putting floors under grain prices for the ’23 crop. 12/9/22 – Using your Bean to Market your Grain – Jeff Peterson and I discuss today’s WASDE report from USDA… there were some surprises, other numbers didn’t change as much as was predicted. Jeff will give the highlights and the outlook for what to look for into 2023. 12/2/22 – Using your Bean – This week we discuss the EPA’s announcement on the RFS Renewable Volume Obligations that help guide the use of renewable fuels in the coming years. Expectations going into the release of the numbers were for a significant increase because of renewable diesel production coming on line, but that’s not what was indicated in the announcement. Jeff walks thru the process and believes that “cooler heads will prevail” moving forward. 11/25/22 – Using your Bean – This week we size up the competition in the world grain markets…. how does South American grain exports compare to that of the US… has that changed much over time, and what can we do with that information in our own marketing plan? 11/18/22 – Featuring Jeff Peterson at Heartland Farm Partners in Lincoln…. today we talk about the importance of South American grain production…. what is the normal cropping cycle in Brazil and Argentina, how does their production compare to the US production, when is it available to the world market, and how does that impact when we market our grain. 11/11/22 – Using your Bean to Market your Grain – Talking about the USDA Baseline projections that were released earlier this week… why does the USDA put this out, what did the numbers show, and how can we use this information in our marketing plan. 11/4/22 – This week we cover more about basis. Why is it so important to manage basis, the seasonality of basis, the story that basis is telling us now, and should we be looking at new crop ’23 basis now already? 10/28/22 – Using your Bean – a discussion about basis today…. why is basis a storyline this year, how much has basis changed compared to normal,and how do we manage basis as a part of our marketing plan. 10/21/22 – Using your Bean to Market your Grain – this week we step back and look at the situation we are in with our marketing plan. Why is it important to review your marketing plan at this stage of harvest? We’ll also cover several senerios you may find yourself in, from HTA’s to unpriced bushels…. what are some things you can do right now to shore up your marketing plan? 10/14/22 – Using your Bean to Market your Grain – today we break down the production information from USDA’s Wednesday report… how do they come up with yields, how do the yields compare to historic trends, and does this indicate a change in direction for our marketing plan? 10/7/22 – Using your Bean to market your Grain – There’s been a lot of attention given to the US Dollar index recently…. it has risen to 20 year highs….. So What?? Well, we’ll try and unpack this discussion a little today…. Jeff will talk about what is the US Dollar Index, how is it figured, what’s happening to the index now vs. historic patterns, and most importantly how does this relate to the movement of commodities and grain that’s being harvested now? 9/30/22 – Weekly conversation with Jeff Peterson at Heartland Farm Partners on today’s USDA Grain Stocks report and the Small Grain Summary…. what did the numbers show, how did we get to those numbers, and how can they impact are marketing plan are the main things we talk about today. 9/23/22 – Using your Bean to market your Grain – this week we cover three issues that should be addressed in your harvest marketing plan….should you price bushels of corn and soybeans now that are headed to town at harvest…. should we be establishing harvest basis now…. and should we consider rolling hedges and HTA’s out to deferred delivery periods? 9/9/22 – Using your Bean – This week we take a detailed preview of the September WASDE report due out from USDA on Monday… There is a change in how they calculate yield, and there’s a chance they may adjust acres… Jeff talks about what that could mean for your marketing plan moving forward. 9/2/22 – Using your Bean to Market your Grain…. on this week’s program we step back and dust off the marketing plan that we created earlier this year…. is now the right time to set basis? How about rolling your futures hedges or HTA contracts? Also think about harvest logistics and will you have some unpriced bushels that will have to go to town during harvest, what’s the best way to deal with those? 8/26/22 – Using your Bean to Market your Grain – analyzing the Pro Farmer Crop Tour, final results, and what that means for your marketing plan. 8/19/22 – Using your Bean to Market your Grain – on this week’s program we talk about next week’s Pro Farmer crop tour… why is it so important to watch the progress of the crop tour this year…. what data should you particularly watch this year…. and how can this information be used in your marketing plan. 8/12/22 – This week it’s all about the USDA data out today…. the updated WASDE numbers, planted acreage, production and yield updates, ending stocks, and resurveyed planted acres in the northern plains and upper Midwest…. Jeff provides an overview of the numbers and how that impacts our marketing plan. 8/5/22 – Today a preview of next week’s WASDE report from USDA. Jeff talks about the important information that will come out on Aug 12, how the yields for corn and soybeans are determined in this report, how that could affect supply AND demand…. and what this new information allows you to do with your marketing plan. 7/29/22 – Using your Bean to Market your Grain – this week we review where we are in our marketing plan, and look at ways to actually manage risk by assessing our expected production and making the decision to get grain priced during this weather rally… why is this important now? Jeff shares the details in this week’s report. 7/22/22 – Using your Bean to Market your Grain – this week we talk more about those weekly crop condition numbers that come out from USDA-NASS…. is there a way to use these numbers in our marketing plan and have a trigger that we can act on and price some grain? Yes, there is! We will walk through how conditions, moisture, and temperature can all be a part of the decision-making process to price grain. 7/15/22 – Using your Bean – topic this week is the progress of the weather market…. since the WASDE this week offered no surprises, what is the market focusing on more and more these days? The Weather! There’s also a point where crop conditions become a better indicator of yields, and therefore can offer direction in your marketing plan…. we’ll put these pieces together in today’s program 7/8/22 – Using your Bean to Market your Grain – this week’s discussion focuses on the pullback in the grain markets… what does that mean for our marketing plan…. frustration is common in this situation, looking at higher prices in the recent past, we’ll talk about how to leave that behind and assess what the market is dealing with now, and how that plays into your marketing plan. 7/1/22 – Using your Bean – in this week’s program we take the information given to us by USDA in the Acreage and Stocks reports to come up with realistic price goals for corn and soybeans… which numbers from each report are most important to put together our price expectations and what we can do with that information will all be covered in this week’s installment. 6/24/22 – Using your Bean (KTIC and KRVN) – since it seems we are in the throws of a weather market, today we’ll discuss what those in the markets look at to make their opinions, and that’s in part weather models…. we’ll talk about the two major models the market looks at, their frequency, and how we can use that information in our own marketing plan. 6/17/22 – Using your Bean (KTIC and KRVN) – today’s topic focuses on the basis contract…. Jeff and I discuss why basis is so strong now, how that can be used in decisions for our marketing plan, tools to capture strong basis, and what to watch for moving deeper into summer related to basis and marketing. 6/10/22 – with Jeff Peterson, Heartland Farm Partners…. today the June WASDE was released… Jeff summarizes the numbers, gives keys to watch in future reports as we know more moving forward in the season, and puts these numbers into perspective so we can use the information in our grain marketing plan. 6/3/22 – Using your Bean (KTIC and KRVN) – This week’s program is an extension of last week…. discussing the use of the Hedge to Arrive contract for pricing grain…. last week was its use in marketing bushels delivered at harvest. This week we look at the HTA contract in pricing post-harvest delivered bushels…. what are the advantages to this strategy, how is it practically implemented, and what sort of value can be captured using this strategy. 5/27/22 – Using your Bean to Market your Grain – today we discuss the Hedge to Arrive contract for pricing bushels that will be delivered at harvest time… how does this contract function, how does it work, how does it fit into your marketing plan…. all this and more addressed in this week’s program. 5/20/22 – with Jeff Peterson, Heartland Farm Partners, Lincoln. This week we talk about how to keep up with the demand picture in corn in between WASDE reports. 5/13/22 – Using your Bean to Market your Grain – this week we dive deep into the May WASDE report…. there were adjustments made in various categories of grain supply and use that we typically do not see this early in the growing season, but they are not unprecedented, either….. how do these changes affect the attitude of the market, and how do we use this new information in our marketing plan. 5/6/22 – Using your Bean to Market your Grain – This week we discuss the May WASDE report, due out on May Why is this a report worth watching? What could grab the market’s attention? What impacts could this report have on the market? We’ll talk about all these things and more in this week’s segment. 4/29/22 – Using your Bean to Market your Grain – Today we discuss the weekly crop progress report. What is it, how is it compiled, and how can we use it in our marketing plan…. those are the main topics for today. 4/22/22 – Using your Bean to Market your Grain – This week we look at another strategy of ways to address the fear of selling grain and missing out on higher prices – today we look at the use of a put option as a mechanism to address that fear. 4/15/22 – Using your bean to market your grain – this week is an expansion of last week’s topic…. in an effort to protect our cash grain sale, and give us upside potential, producers can use call options to do that…. this week we walk thru using a call option and how it impacts our marketing plan if the market goes up or down. 4/08/22 – Using your Bean to Market your Grain – This week it’s back to our discussion about long term risk management and having a plan to market your grain. This week we address the fear of missing out on higher prices… there are several ways to position yourself to make good decisions now AND have upside potential later. 4/01/22 – Using your Bean to Market your Grain…… this week we pause on the building of our overall marketing plan to talk about the 2 big reports from USDA this week…. Prospective Plantings and Quarterly Grain Stocks reports…. Lotsa soybean acres, not so many corn acres, more grain being held on farm and off farm compared to last year…. what do these numbers mean for our marketing plan? Jeff has more in this week’s report. 3/25/22 – Using your Bean – continuing on the theme of putting together our complete marketing plan, this week Jeff talks about tools that help you to determine when to sell grain… there are technical signals, there are supply and demand ratios, in addition to averaging and profitability triggers, and there’s ways to use them in combinations as well. 3/18/22 – Using your Bean – this week Jeff and I talk about what tools do you use to decide WHEN to market your grain…. Main topics this week include making decisions based on profitability…. And the idea of using time or averaging as a decision tool…. More to come on this topic next week. 3/11/22 – USING YOUR BEAN TO MARKET YOUR GRAIN – This week we discuss getting over the fear of not producing enough grain to meet our pre-harvest marketing commitments. We’re told that a better price can be achieved if we market bushels before harvest or even before we plant the crop. However, a legitimate concern is what happens when there’s a catastrophe and the bushels aren’t there…. Jeff and I discuss 2 options to deal with this in our marketing plan…. you can either buy out the contract or work with your grain buyer and roll those bushels to the next crop year…. each is different and depending on what happens in the markets between when you made the agreement and harvest time dictates which works better for you. 3/4/22 – Using your Bean…. This week we dive into the crop insurance decision, now that the spring prices has been established, we put those numbers into our marketing plan and see what sort of actual protection it offers our operation, and what it allows us to do with our marketing plan. 2/25/22 – Using your Bean to Market your Grain – in this week’s program we talk about when to market your grain… do you price grain before harvest or after the combines roll? also this week we address 2 big fears in your plan, the fear of not producing a crop and the fear of missing out on higher prices. 2/18/22 – Using your Bean – this week we discuss the importance of crop insurance to our marketing plan…. why it’s so important and what it allows us to do. 2/11/22 – Using your Bean – we pause the discussion about developing your individual marketing plan and talk about this week’s WASDE report from USDA…. what are the important numbers to focus on from South America, putting those numbers into perspective, and how that might impact endingstocks here in the US. 2/4/22 – Using your Bean….. we continue the development of our overall grain marketing plan…. we review the production elements of the plan, but then get into the conversation about how storage plays a part in our plan, and how the delivery plan can also influence your marketing decisions. 1/28/22 – Using your Bean to Market your Grain – This is the first segment of using production information in the effort to build an overall grain marketing plan…. this week we talk about ways to determine your potential production in the year ahead, what costs go into producing that crop, and how to have an educated guess on your cost of production either per acre or per bushel. 1/21/22 – Using your Bean to Market your Grain – This week we start a series on putting together your marketing plan…. Jeff and I break down why you need a marketing plan in today’s environment, what are the fears that a well thought out plan can address, and what are the different parts of the plan….. stay tuned with us over the next several weeks as we help you develop a marketing plan. 1/14/22 – Using your Bean – This week we take a deep dive and unpack the data dump from USDA on Wednesday…. ’21 final crop production numbers, WASDE, and quarterly stocks all came out on the same day. Jeff takes a look at the numbers for corn and soybeans, we try and calculate a value based on these numbers, and then decide how this impacts our grain marketing plan. 1/7/21 – Using your Bean – this week it’s a preview of the USDA January reports, including the WASDE and the final crop production numbers for 2021…. what could change in these reports…. what are the estimates going in….. could USDA adjust numbers in South American production….. all these factors are in play for the Jan 12th reports. 12/31/21 – Using your Bean to Market your Grain – on this week’s program, little change in tone and a call to action on our marketing plan….We’ve been highlighting the elements of a weather market as it relates to what’s going on in South America, and it seems as though there are signs that the weather market is advancing thru its stages pretty quickly… that means it’s time for us to act with our marketing plan, and Jeff and I talk about tools that can be used to accomplish both old crop and new crop grain sales. 12/24/21 – Using your Bean to market your Grain – Part 2 of our discussion about a weather market…. this week Jeff talks about how the weather market can be used in your marketing plan…. how does the weather market interact with the technical and fundamental sides of the market, and what is being monitored right now. 12/17/21 – Using your Bean to Market your Grain – Today Jeff and I recap the elements of a weather market. Why in December? Because of the South American growing season! Jeff highlights the different stages of a weather market, what is currently happening in SAmerica, and could this have an impact on yields 12/10/21 – Using your Bean to Market your Grain – This week we recap the WASDE report that was out on Thursday morning…. Why were there no changes made to ending stocks….. what does that mean for relative fair value of the grain….. and does this indicate any action in our grain marketing plan? 12/3/21 – Using your Bean – week 2 of our discussion about what’s going on in South America…. This week Jeff discusses what is happening weather-wise in Brazil and Argentina, why it’s important to follow the weather and happenings in South America, and how we can use that information in our marketing plan. 11/26/21 – Using your Bean to Market your Grain…. this week it’s a South America update…. progress on planting, weather conditions and the impact of La Nina, and other factors that could impact corn and soybean production south of the equator. 11/19/21 – Using your Bean to Market your Grain with Jeff Peterson at Heartland Farm Partners Today we talk about 3 contract that can be used to market grain…. HTA, Cash Forward, and Basis contracts…. how are they different and which ones should be used to sell grain yet this year, old crop after the new year starts, and possibly come early sales on 2022 harvested corn and soybeans. 11/12/21 – Using your Bean – Jeff and I take the numbers from this week’s WASDE report and plug them in to get a stocks to use ratio… that gives us an idea of what the value of the grain might be… compare that to where the futures are trading and that can help you make more informed marketing decisions. 11/05/21 – Today we preview the WASDE report due out Tues Nov 9 from USDA…. this report could be a market-mover with updated yield and usage data… Jeff talks about how USDA comes up with the yield estimates, and what the market will do with these numbers in the short-term and long-term…. 10/29/21 – Using your Bean – Discussion about how to keep track of demand for corn and soybeans quarterly, monthly, and weekly. 10/22/21 – Using your Bean – South America update…. why is SA weather important to our marketing plan, how has planting gone so far, what’s the weather outlook, and how do we use this info in our post-harvest marketing plan. 10/15/21 – Using your Bean – this week we incorporate the recent Grain Stocks data into the WASDE, and talk about setting basis on HTA and hedges, post-harvest grain delivery, and using the carry in the futures market to our advantage. 10/08/21 – Using your Bean – this week we take the quarterly grain stocks number from last week and incorporate it into our marketing plan, looking at the stocks to use and come up with a value of the grain based on historical data in similar situations. Also, Jeff and I discuss South American planing progress, and at what point the market really starts to watch it very closely. 10/01/21 – Using your Bean – a deep dive into the Quarterly Stock Report from USDA, and how we use it in our marketing plan. 9/24/21 – Using your Bean to Market your Grain – Jeff and I discuss the moisture discount schedule on corn…. Last week we highlighted soybeans, and you’ll find out that soybeans are little more simple than corn…. Jeff says there are 4 different ways to tackle moisture discounts with corn, therefore you have to do some math to make sure you’re comparing apples to apples…. we also draw attention to what happens if you let the corn get too dry when you’re making sales. 9/17/21 – Using your Bean to Market your Grain – this week Jeff highlights 2 harvest decisions on soybeans… at what moisture should you harvest and send soybeans to town, and how much foreign material is allowed… both have a cost, Jeff highlights which will net you the most. 09/10/21 – Recapping the Highlights of today’s USDA Reports. 09/03/21 – Using your Bean to Market your Grain – this week Jeff Peterson and I discuss the Hurricane Ida and its impact on the Gulf of Mexico grain export system…. differences in the eastern corn belt vs. the western corn belt, and how those differences might impact the flow of grain coming off the combines. 08/27/21 – Using your Bean to Market your Grain – this week we brush off the marketing plan and refresh some things that should be addressed NOW, right before harvest…. how is this year the same as prior years, how is it different, and how does that impact the storage/delivery decisions we make at harvest. 08/20/21 – DISCUSSION ABOUT THE PRO FARMER MIDWEST CROP TOUR RESULTS THAT CAME OUT FRIDAY AFTERNOON. 08/13/21 – Using your Bean – discuss the USDA WASDE and crop production information from yesterday, and what the future holds for any potential adjustments to yield projections. 08/06/21 – Using your Bean to Market your Grain – this week we preview the USDA WASDE report due out on Aug 12… this report could be interesting, in that the projected yield for corn and soybeans will be determined differently than last month’s report…. we discuss how it’s different and why that’s important. 7/30/21 – Using your Bean to Market your Grain…. building on our conversation from last week…. more about how we get a yield estimate from the weekly crop progress report. What goes into it, how big of a geographic area do you look at, current weather influence, and early ideas on what the corn yield might be for this year… 7/23/21 – Using your Bean to Market Your Grain – this week we look at the weekly crop progress report as a tool in the marketing toolbox. How is it put together weekly, what does it indicate in terms of giving us a potential yield, and what do we do with that information? 7/16/21 – Using your Bean to Market your Grain – This week a quick recap of how USDA comes up with the yield estimates in the WASDE report… there is a progression of how that yield number is vetted, and therefore has an impact on stocks and price projections. 7/9/21 – Using your Bean to Market your Grain – This week we take USDA’s numbers from the acreage and stocks reports and plug them into our marketing plan… this way we can have a reasonable estimate of stocks to use and price projections for the upcoming harvest. 7/2/21 – Using your Bean to Market your Grain – we take the information from USDA’s Wednesday reports and take a critical look at the information…. where did it come from, what were the high points, and what do we do with the information. 6/25/21 – Using your Bean to Market your Grain – discussion about the pending USDA reports next week…. How does USDA assemble the quarterly Grain Stocks report and the Planted Acreage report…. could these reports hold surprises this year, and why they are so important. 6/18/21 Using your Bean to Market your Grain…. today’s topics are the RFS and RINs…. alphabet soup? Perhaps… but the Renewable Fuels Standard and Renewable ID Numbers are very much connected to ethanol markets, which impact the corn market, this is why its important to at least understand what they are, how they are connected, and why they are being talked about today. 6/11/21 – Using your Bean to Market your Grain…. this week we recap the WASDE out from USDA yesterday, and take the information and plug into our marketing plan…. but there are other factors that are influencing the markets as well, including weekly crop progress and daily weather runs…. We’ll talk about how to use this information to execute your marketing plan. 6/4/21 – Using your Bean to Market your Grain – this weeks’ discussion focuses on the daily trading limits in corn and soybean futures…. Jeff talks about the recent change to the daily limits, what happens when the markets trade the limit, and how the daily limits are determined by the CME Group (spoiler alert… there is a method to the madness!). 5/28/21 – Using your Bean to Market Your Grain – Part 2 of the series on ways to take advantage of higher prices while protecting against lower prices. This week we examine how the put option can be used in today’s marketing environment. 5/21/21 – Using your Bean to Market your Grain – this week we start a short series on tools you can use now to help follow through on your marketing plan. With the volatility in the markets over the last few months, we talk about the fears that present themselves, and how we can address those fears, preserve value, and raise the level of comfort with your plan. 5/14/21 – Using your Bean to Market your Grain – this week we recap the WASDE report that came out this week… what were the numbers of interest to the market, how did they compare to pre-report estimates, what’s different about this month’s report, and how do we use this new information in our marketing plan. 5/7/21 – Using your Bean to Market your Grain…. discusses changes in the “nuts and bolts” of how the markets operate… including fund limits and changes in daily price limits for corn, soybeans, and wheat. 4/30/21 – Using your Bean to Market your Grain – This week we examine the weekly crop progress report… what is it, how is it assembled each week, and how can we use it in our marketing strategy. 4/23/21 – Using your Bean to Market your Grain – we follow up last week’s discussion about the Safrinha corn crop production discussion with some demand discussion and talk about an expanding corn ethanol market in Brazil. 4/16/21 – Using your Bean to Market your Grain – This week’s discussion focuses on the Safrinha corn crop in Brazil… what it is, how it came to be, and why the markets pay such close attention to it. 4/9/21 – Using your Bean to Market your Grain…. USDA updated their World Ag Supply and Demand tables today…. Jeff has the latest numbers, along with market reaction. Also, let’s take those numbers and update our price projections and use them in our marketing plan.