# $7 Beans



## rjmoses

Just checked the cash prices at the local elevator: beans--$7.12, corn--$3.12.

Ouch!

Ralph


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## Palmettokat

Realize the Carolinas are not the biggest growers of corn or beans but Hurricane Florence may have a positive impact on the prices.


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## haybaler101

Palmettokat said:


> Realize the Carolinas are not the biggest growers of corn or beans but Hurricane Florence may have a positive impact on the prices.


Not really, only the "I" states matter at this point and it is all good and a huge crop.


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## PaMike

Don't worry, there will still be guys paying $350/acre for land rent next year...


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## haybaler101

PaMike said:


> Don't worry, there will still be guys paying $350/acre for land rent next year...


Where are those bargains at?


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## PaMike

haybaler101 said:


> Where are those bargains at?


Seriously? You guys are paying that kind of rent and making money???

I know a LOT of guys in this area paying in the 200's but these are also 20-60 acre parcels..


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## haybaler101

I am not. But plenty are. Local BTO rented 400 acres @ $300 for this year and paid cash up front last November. Melon ground runs $450-500 acre. Rent only goes up, never comes down. If you don’t pay, 10 more are lined up that will.


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## rjmoses

PaMike said:


> Don't worry, there will still be guys paying $350/acre for land rent next year...


Right now, I'd be happy at $150

Ralph


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## PaMike

haybaler101 said:


> I am not. But plenty are. Local BTO rented 400 acres @ $300 for this year and paid cash up front last November. Melon ground runs $450-500 acre. Rent only goes up, never comes down. If you don't pay, 10 more are lined up that will.


Wow, and I thought it was tough where I am at...


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## NewBerlinBaler

The comments above remind me of the housing market leading up to the 2008 crash

Landowners and equipment manufacturers keep raising their prices even though the market won't support these increases. I wonder how long it will take before the correction comes?


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## swmnhay

NewBerlinBaler said:


> The comments above remind me of the housing market leading up to the 2008 crash
> 
> Landowners and equipment manufacturers keep raising their prices even though the market won't support these increases. I wonder how long it will take before the correction comes?


Investors have not backed of on buying the good ground here if they get 3-4% return on their money and some fool bids up the rent even tho they are loosing money the investor is still happy.Poorer ground is a little softer here,maybe 20% lower.

New paint hasn't gone down at all.Might be a few bargins on used.Dealers are not offering as good of trade in values as yrs past.

Seed price is pretty flat

Ferilizer prices have gone up claiming there will be more demand because of more corn acres next yr.

I been wondering if a bigger land correction is coming but it hasn't happened yet


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## IHCman

at our local elevator cash price of corn is $2.72, beans are $6.56

Been hearing that some elevators in the eastern part of the state aren't even buying beans as they have no market to sell them to.


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## rjmoses

IHCman said:


> at our local elevator cash price of corn is $2.72, beans are $6.56
> 
> Been hearing that some elevators in the eastern part of the state aren't even buying beans as they have no market to sell them to.


Ouch! Ouch! Ouch!

I'm starting to think that a B-I-G market crash coming--one that will make the Great Depression look like a cake walk.

Think of it this way: The bigger a boil gets, the more painful it is when lanced. Trump is doing what should have been done 30 years ago, i.e., putting a halt to unbalanced trade practices.

The Chinese have retaliated by not buying our grain. They won't care if their people go hungry, so they can get away with this. This might trigger a cascade of events: Farmers go belly up, don't buy new equipment, etc. John Deere sales drop. Their employees get laid off. Those employees default on their mortgages, don't buy new cars, refrigerators or iPhones. Basically, they hunker down. The people who build those products, develop that software, or sell those products get laid off.

The trickle effect becomes like a little leak in a damn that builds into a flood.

The banks and other financial institutions got bailed out in 2008. I didn't!

I figure that I lost about half a million dollars out of my retirement account because 1) I was getting any return (.1% is nothing!) on my retirement savings when I should have been getting 5% ROI and 2) I had to draw down on my capital. I WAS in pretty good shape--now, I'm worried about the next 10-15 years.

Ralph


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## swmnhay

IHCman said:


> at our local elevator cash price of corn is $2.72, beans are $6.56
> 
> Been hearing that some elevators in the eastern part of the state aren't even buying beans as they have no market to sell them to.


I hear thats why they want to build a new soybean proccesing plant in ND.poor basis.

Going to invest?

http://www.ndsoy.com/


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## IHCman

$10500 per unit, 4 unit minimum. Shoot why not, sounds like a gold mine. lol

Seriously not a bad idea to build a crush plant in the state. We can feed the soybean meal here and ship the oil out for further processing.


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## swmnhay

IHCman said:


> $10500 per unit, 4 unit minimum. Shoot why not, sounds like a gold mine. lol
> 
> Seriously not a bad idea to build a crush plant in the state. We can feed the soybean meal here and ship the oil out for further processing.


the plant here MnSoy processes the oil into bio diesel.Not sure if the ND plant plans on processing the oil into biodiesel.

The minimum investment is quite steep especially with the state of current farm economy.MnSoy is doing pretty good now but had a rough start.


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## rjmoses

Here's my prediction:

In about 2-3 years, after beans have tanked and farmers have closed up shop, Congress will come along and pass a law that says oil companies have to buy or produce so much bio-diesel (from beans)--just like they did with ethanol.

Of course, this is like closing the barn door after the horses, cows, pigs and chickens are all out!

Ralph


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## swmnhay

rjmoses said:


> Here's my prediction:
> 
> In about 2-3 years, after beans have tanked and farmers have closed up shop, Congress will come along and pass a law that says oil companies have to buy or produce so much bio-diesel (from beans)--just like they did with ethanol.
> 
> Of course, this is like closing the barn door after the horses, cows, pigs and chickens are all out!
> 
> Ralph


Mn has done that for quite a few yrs.B20 in summer months and B5 in winter months.??

The soydisel also serves as a lubricant in fuel pumps.Which since they took the sulfer out which helped lubricate pumps some thing was needed.


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## IHCman

Used to run B2, really liked it. Seemed to quiet up older tractors. I'd imagine B 20 would be even better. For some reason it faded away here when fuel prices went sky high a few years back.


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## mlappin

Run B5 year round here.


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## swmnhay

I've ran B-80 in the pickup in summer and couldn't tell any difference.

One station has a blender pump you can choose B20, B50 or B80


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