01/14/21 on Tuesday, 1/12/21, the USDA threw more gasoline on what seemed like an white hot fire. They lowered the expected carryout on corn to 1.552 billion bushels (last month 1.7) and lowered the beans from 175 million bushels to 140. The most shocking part was the corn stocks on hand. The USDA's number for corn was a surprising 629 million bushels lower than the average trade guess. We will see how that impacts the carryout number for corn on future reports. Some traders are still expecting the bean carryout to end up closer to 100 million bushels when it is all said and done. Time will tell...but nobody saw our corn carryout to be cut in half from the August report and beans to the level they are at. Who knows what is in store for grain prices as we go forward, but my recommendation is to reward the markets as they keep climbing. It is impossible to tell when we will top out and as much as i hate to say it...it can fall faster than it went up. I don't necessarily see that happening, but we live in a very crazy and volitile world...New crop corn today closed at 4.28 and beans 11.46. It is very possible we see those values continue to climb, but from a historical perspective...those prices don't come around very often.
Livestock: As temps start to drop your livetock nutrient needs will increase dramatically. For instance, if it is 20 degrees outside and your cow are dry, their energy needs are 100%, but if they are wet and cold, their nutrient needs jump to 180%. Please keep this in mind as the weather fluctuates like it does here in Missouri. The hay that your livestock is eating may not be enough as Mo weather kicks in. Calving season will be here before we know it as well, please call your local MFA and ask about Ricochet mineral. It is designed to increase colostrum quality as well as helping to get that cow bred back early for the next calving season.
Rain Friday afternoon in the eastern Great Lakes, Southeast, Nebraska and the West. A system will move from California into the Plains with some rain. Snow and freezing rain expected into the central Plains and Midwest. » More DTN Weather Commentary