StatelineLine Cooperative

News

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 Cooperative

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SLC Commentary

STATELINE COOPERATIVE’S AFTERNOON COMMENTS MAY 22nd

Corn North Burt: up 1 @ 2.81

Corn prices were weaker all day on lack of fresh supportive news and weakness in the wheat market. The crop is mostly planted with a good share of it up already. While there have been some pretty heavy rains in the ECB this past week, it seems pretty tough for prices to rally much as much of the market sentiment has been “Rain Makes Grain”. Tough to believe this year would be any different.

Closes: July at $3.17 ½, down ¼ cent, September at $3.22 ¼, down ¾ cent, December at $3.31 ¾ down 1 ¼ cents.
Planting progress expected to be near 90-95% complete versus 80% last week.
There has been some chatter about China returning to the market for a sizable chunk of US corn, although there has been no sign of them showing any interest so far.

Soybean down 2 @ 7.81

Soybean prices traded both sides in thin trade ahead of the long weekend. Fresh supportive news is lacking. The crude oil market was weaker with weakness rolling over to the soy complex. China buying has been chattered about most of the week, although there was very little sign of them having interest in US soybeans this week. Prices drew additional pressure from mostly favorable weather for the fresh new plants to germinate and pop up above ground to soak up a bit of sunshine. The canola market was lower on a bout of technical selling and improving conditions for getting the canola crop planted.

Closes: July at $8.33 ¼, down 1 ¾ cents, August at $8.37, down 1 ½ cents, November at $8.44, down 1 ½ cents.
CIF premiums were mostly unchanged.
The products were mixed with soymeal up 1-2 bucks with the emergence of the bargain hunters after hitting contract lows.