Dear StateLine Cooperative customers,
The COVID 19 pandemic continues to impact almost every aspect of our daily lives. StateLine Cooperative has taken several actions to limit the risk of infection both within our customer and our employee groups. As the rate of infection continues to increase daily, we are taking another step in our business to manage the risk of COVID 19 and the potential impact it may have in the spring season. Beginning April 13, 2020, the following offices will be closed until May 10, 2020.
Buffalo Center – Grain office
Anhydrous ammonia will continue to be available at all StateLine Cooperative locations including those listed above. If you need to conduct business during that time you may call these closed offices and your call, will be forwarded to another StateLine Cooperative location where we can serve you. The office closures are being done so that StateLine Cooperative agronomy has access to all of the labor available within our company for spring activities. If you have any concerns about this change, please call your local StateLine staff as soon as possible so that we can address your needs.
March 19, 2020
Notice to StateLine Cooperative members and customers,
StateLine Cooperative understands the importance of doing everything we can to ensure the safety and health of our customers and employees, particularly as we approach a critical time in agricultural production. StateLine also understands the need to maintain business operations to ensure you are able to continue to market grain, order feed and crop inputs in a timely manner.
StateLine, like most businesses in the area, are taking additional steps to ensure the safety and health of our customers and employees. This includes eliminating business travel and group meetings, asking employees to self-quarantine when appropriate, and social distancing.
In our effort to support social distancing, we are immediately implementing a reduction of access to our offices to help mitigate the risk of spreading COVID-19. We will only allow office visitors who have official business to conduct with our staff.
We also encourage you to use the phone, fax, mail, email or other electronic means as much as possible to conduct business with StateLine. We will make every effort to continue to provide you with the products and services you need in a timely manner to maintain your farming operations, while providing for the safety and health of you and our employees.
Please monitor our web site for additional information and operational notices regarding the rapidly changing environment we are all working and living within.
Thank you for your understanding and support in controlling the spread of the virus.
Bill Beukema, CEO
StateLine Evening Comments March 31st
Corn North Burt: down 1 @ 3.00
USDA estimate of US 2020 corn planted acres was bearish. USDA estimated the acres near a record 97.0 million versus 94.3 expected and 89.7 last year. While some feel 1 million acres of corn could be switched to soybean due to recent drop in corn prices those acres could add 200-300 mil bu to the markets expected 2020 crop before the USDA numbers. USDA also estimated US March 1 corn stocks at 7,950 mil bu versus 8,125 expected and 8.613 last year. Q2 feed/residual is estimated at 1,379 mil bu or 186 mil bu above last year. Some still feel that the lower stocks estimate may be due to fact US 2019 crop may be smaller that USDA guess. Still the lower stocks cannot offset the expected drop in ethanol demand. US farmer has been a good seller of corn of late. Brazil 2nd corn crop planting is done. Weather is dry and the crop could use some rains. Drop in their ethanol demand would more than offset a lower crop. Some feel a trade below 3.43 May corn could send prices down to near 3.29.
Beans: up 4 @ 8.36
Soybean futures are marginally higher led by new crop November. Soyoil is gaining on soymeal. USDA estimate of US soybean acres was bullish. USDA estimated US 2020 planted soybean acres near 83.5 million versus 85.0 expected and 76.1 last year. While being above last year the estimate was below the average trade guess and could suggest a 2020 US crop 50-100 mil bu below early market estimates. Some feel there could be a 1 million acres switch from corn to soybeans due to recent drop in corn prices. USDA estimated US March 1 soybean stocks at 2,250 mil bu vs 2,241 expected and 2,727 last year. Brazil soybean harvest is near 76 pct done. Brazil farmers have sold a record amount of the crop to date. Brazil has also expected a record 31.5 mmt of soybeans to date and up 38 pct over last year. Some could see SK support near 8.68 and first resistance near 8.97. May soymeal is near support at 321. Resistance is near 343.