Commodities are either fungible, meaning that they are traded as a class on one market price, or non-fungible, meaning they are traded based on specific quality measures for each unit. Corn is the quintessential fungible commodity – a bushel of corn is a bushel of corn, and corn from Missouri isn’t any different from corn in Ohio, apart from the local cash basis price. Most corn grown in the U.S. is used for fuel or feed; only about 19% of the U.S. crop is used for food. Confused about the difference between food and feed? Well, feed is the food you feed food. Food-grade corn is consumable by humans; it is grown under contract from specific buyers. There are two main types of food-grade corn sold by Beck’s: hard endosperm, and waxy.
Categories: CropTalk, 2020
Tags: CropTalk, waxy corn, Customer Talk, corn traits
As we dive into a new decade, I sat down with Craig Hurley, soybean lead for the Beck’s product team. His unique vantage point allows him to evaluate new technologies from across the industry well before they are commercially available.
Tags: CropTalk, soybeans, Customer Talk, soybean technologies
Several months ago, I wrote about the importance of developing your grain marketing plan. That plan should help you understand your cost of production and determine a breakeven price at average or crop insurance (APH) yields. You should be thinking about the price where you are willing to begin selling your new crop. I have targets in mind for my plan and will be watching for opportunities to price during the “too season” — too wet, too dry, too hot. The "too season" is the best opportunity in the spring/summer market.
Categories: CropTalk, 2019
Tags: CropTalk, grain marketing, Customer Talk