Labor Day is the unofficial end of summer. To be honest with you, the last thing I want to think about today are the grain markets.
My 2006 crop has all been marketed. I have enough of the 2007 crop priced for the time being. My bins are empty awaiting harvest to begin. I will have enough storage space that I do not have to wonder how I am going to put this year's production away. I have made some good decisions in the last three months and I have made some that were not so successful.
My spreadsheet is ready to track the 2007 "Dead Cat Bounce" in the soybean market. I am ready to pull the trigger on a short position in the soybean futures market, the day before the September crop report. What to do with the put option hedge on December corn futures will be decided when corn harvest is underway. I am ready for a couple of slow work weeks before harvest begins.
I don't normally have a lot of speaking business in the summer. I was not on the program at the Nebraska "Soybean Management Fields Days" this summer. However, I had three engagements that turned out to be very memorable. The first was in June at a meeting of the Community Bankers Association of Illinois. It was the first time I have spoken in Illinois since 1994. The second was for the Royal Bank of Canada in Ontario. I stretched this trip to include a week of vacation north of the border. It was a very enjoyable and memorable time. The third was the "Marketing Talk" meeting in Des Moines last week. I hope the "Marketing Talk" meeting turns into an annual event because I found it very enlightening.
My focus for the next two weeks will be on things other than corn and soybeans. Tomorrow, Sharon and I will drive to Lincoln to celebrate the eighth birthday of our oldest grandchild. It is also a Big Red football Saturday and state fair. I have not gone to either of these events since Claire was born. I never imagined I would miss a state fair one year, let alone eight in a row. Maybe it is time to start going with the grand kids.
Next week is our local festival called the "Cass County King Korn Carnival." It is the longest running continuous festival in Nebraska. It is also one of the largest in a small town. We will have approximately 20,000 come to a community with a population of 7000. My part in this celebration is announcing the Friday night "Farmers and Merchants" parade. We have all of the events usually seen at county fairs. The big parade is Saturday night.
The following week is the annual Husker Harvest Days west of Grand Island. It is billed as the largest all irrigated farm show in the nation. I will be on the program for "Market Journal" on Tuesday. It will be filmed in the University Of Nebraska Building at 11:00 A.M. If you are within driving distance of Central Nebraska, HHD is worth the trip.
I will have my usual Ag Online columns each week. Do not expect anything very profound in the way of market predictions! By the time these events are over the September crop report will be past, harvest will be imminent and there should be some fairly accurate measurements of this year's crop size.