Tuesday, June 08, 2010
Hello from the RUC!
The “Ramble” is early or late, depending on how you look at it. Anyway, this week’s Ramble is on Tuesday because on Wednesday it’s off on the Annual Coppin golf trip. This year, I along with my brother, Mark & sons Joel & Jamie, are making a “BIG” trip out of it, traveling to Grand Junction, Colorado to golf three of Colorado’s finest golf courses. This is our 8th annual trip and we always have a great time. Our annual golf trek was started 8 years ago at my wife’s urging. With our boys getting older and out on their own she felt that we needed a family “man-cation”. The trip had modest beginnings on Fargo courses the 1st two years, then on to Minneapolis, then to western ND (couple of times), Brainerd area, and last year a great trip to Sutton Bay in South Dakota. This year’s trip should be fabulous, golfing in the “Rockies”. Every year the boys and I consider ourselves so lucky to have a mom and wife that encouraged us to take a golf vacation as a family every year!
Seeding is complete in our area. While it was a struggle getting in the last of the soybean & edible beans seeded, the crops are growing and looking good. We are over 100 heat units ahead of last year.
Farmers are busy spraying wheat, corn & sugarbeets. Cal, Tracy, Mike & Joe are busy checking fields for weeds and pests aiming to bring your 2010 crop down. Give them a call if you need a field scouted.
Lots of crop still in the bin…………….. check ‘em or better yet start hauling it in to RUC!
While I am going to be out the balance of the week, there will be no drop in customer service. The grain marketing is being left in the capable hands of Travis Hegg. He will take care of all you marketing needs. CALL.
The 2010 Corn crop is rated 84% good/excellent, steady from last week, although there was a 3% shift from excellent into the good category. Corn in North Dakota is 89% good/excellent.
Spring wheat is 84% good/excellent. The spring wheat crop is the 2nd most highly rated crop at this point in the season for the last 20 years. ND is a phenomenal 88% good/excellent.
Soybeans are 84% seeded. This compares the 5-year average of 84%. North Dakota is 88% seeded. The 2010 soybean crop is rated 75% g/e, which is the highest rated crop for this date in 20 years. The North Dakota bean crop is rated 92% g/e.
As for wheat, Texas is now 17% completed with wheat harvest. Oklahoma is 12% harvested. Overall, winter wheat harvest is 3% complete. Most southern wheat is still a week to 10 days away from being ready for harvest.
I don’t expect protein discounts to change anytime soon.
The weather forecast for the Midwest over the next couple of weeks looks very favorable for crop growth. Warm weather, scattered rain showers and high humidity are good ingredients to making a crop grow quickly. There are some concerns in the southwestern plains states however as extreme heat expected in the 100 to 110 degree range could put some stress on both crops and livestock in that area.
On Thursday, the Canadian Wheat Board estimated that more than a million acres might go unplanted in northeastern Saskatchewan this spring, which is about 30% of the province. The reason is because of heavy spring rains and continued ugly forecasts of more rain to come. Normally, all of these acres would be planted to wheat, barley, and canola.
Last week, the US House of Representatives passed the American Jobs Act, which included an amendment to extend the bio-diesel tax credit, retroactive to January 1, 2010. The Senate will begin to debate this issue this week.
On the economic front last week, the Euro hit a new four year low versus the dollar, and continued weakness in equities caused the Dow to experience its worst May performance in 48 years. The dollar on the other hand, hit a new 15 month high this week. Despite the oil leak issue in the gulf, crude oil has not made any significant moves either way. Crude is currently trading in the $71 range.
I sending this out early so I don’t have today’s closing prices. Here’s what prices have done since January 1st. Wheat is down $.53 @ $4.47. New crop wheat is down $.48 @ $4.54. Corn is down $.54 @ $2.66. New crop corn is down $.76 @ $2.80. Soybeans are down $1.14 at $8.35. New crop beanies are down $1.04 @ $8.10. Prices have struggled the 1st 5 months of 2010. Prospects of a huge 2010 crop along with a very shaky economy, has caused the commodities to struggle. I don’t think the market will recover to January 1st levels but we may see a “mini” rally during the summer. Be prepared to sell into these rallies.
John Wooden, the legendary basketball coach from UCLA passed away the past week. There's never been a finer man in American sports than John Wooden, or a finer coach. He won 10 NCAA basketball championships at UCLA (7 in a row), the last in 1975. Nobody has ever come within six of him. He won 88 straight games between Jan. 30, 1971, and Jan. 17, 1974. Nobody has come within 42 since.
While Wooden's basketball knowledge was second to none, it's the way Wooden taught life that made him near and dear to so many, even those who only read his books or watched his videos.
One of my favorite Wooden stories centered on how the coach dealt with free-spirited Bruin center Bill Walton during the early 1970s.
Walton, who sported a thick mass of red hair and a beard, balked when the coach instructed him to get his hair cut & shave before the season.
Walton told Wooden, "You can't tell me how to wear my hair."
"That's good, Bill," Coach said. "I admire people who have strong beliefs and stick by them, I really do. We're going to miss you." Walton shaved it right then and there. Walton called once a week to tell Coach he loved him.
Coach Wooden was married to his wife, Nellie for 53 years. She passed away March 21st, 1985. On the 21st of the every month, he sat down and wrote a love letter to his best girl. He’d say how much he misses her and loves her and can't wait to see her again. Then he'll fold it once, slide it in a little envelope and walk into his bedroom. He'll go to the stack of love letters sitting there on her pillow, untie the yellow ribbon, place the new one on top and tie the ribbon again.
In her memory, he slept only on his half of the bed, only on his pillow, only on top of the sheets, never between, with just the old bedspread they shared to keep him warm.
I’m closing with John Wooden's Seven Point Creed, given to him by his father Joshua upon his graduation from grammar school:
- Be true to yourself.
- Make each day your masterpiece.
- Help others.
- Drink deeply from good books, especially the Bible.
- Make friendship a fine art.
- Build a shelter against a rainy day.
- Pray for guidance and give thanks for your blessings every day.
Have a great week, everyone…………. I know I will!
Paul
If God brings you to it he'll bring you through it.............
