The guys connect via transoceanic technology to our friend and fellow elevator advocate across the pond, Dan Murphy, aka @GrainPirateDan, in the grain growing East Midlands region of England. Dan shares both the differences and similarities of the grain elevator business from his perspective, and we try to come to grips with a few cultural differences. So pour yourself a pint (just not of Stella) and enjoy!
The guys chat with Kellee James, CEO and Founder of Mercaris, to delve into the mysterious realm of specialty grains. If $42/bushel soybeans doesn’t grab your attention, we don’t know what will! Shout out to cauliflower rice for not sponsoring this episode.
The guys tackle springtime basis in light of inversions, and discuss what an elevator’s fee structure signals to farmers. Just remember kids, keep your eye on the ball, be you a merchant or a farmer… just understand which ball you really should be looking at. Also, pringles are great.
As we look forward to a summer of diminishing grain stocks with big inversions and a new crop year of little to no carry in the spreads, how the heck is anyone going to make any money and what should grain merchants be doing now to prepare? Also, how should farmers be approaching their marketing in this environment? The guys walk through the situation and outline the opportunities.
After some wild times following war news, the guys discuss why things happened the way they did in the cash market during days of locked limit up futures markets in Chicago. Why did people shift their bids to different months? Why were some not bidding at all? How should a farmer look at all of it? Was it all a cash grab for a big "elevator's cut" or were buyers just trying not to lose money?
It's a Festivus Miracle! The guys are back with another episode. In this one we air our grievances about "knowing the markets," having a bunch of screens, and why people look at risk the opposite of the way Merriam Webster does. We also catch you up on some of our latest conferences and what's on our schedule for 2022. Hope to see y'all out there this year!
The guys discuss the latest ways to #winbasis from last summer.
Step 1: Volatility
Step 2: Derivatives
Step 3: ???
Step 4: #WinBasis
Once again, the guys welcome guest cohost and fellow GMD connoisseur, Susan David, to the show to do some analysis of the infamous Facebook page known on AgTwitter simply as GMD. We discuss some of our favorite posts and delve into the comment sections. Some good discussion on why people bid vs. different months, spreads, and how basis is used by grain buyers.
The guys welcome guest cohost and fellow GMD connoisseur, Susan David, to the show to do some analysis of the infamous Facebook page known on AgTwitter simply as GMD. We discuss some of our favorite posts, delve into the comment sections, and hopefully bring somewhat of a counter argument to the anti-merchandiser, anti-elevator mentality that pops up from time to time.
For this episode, we cross international lines to talk with the (in)famous Pete Archer from Maizieing Acres in Ontario. Pete tells us his personal story as a grain farmer and eventual commercial grain elevator and gives us great insight on how basis trading actually works when trading across borders and currencies.
The guys delve into the reality that bushels will likely be hunting for space this year, and what that means for the value of space amid the sad-trombone spread structure currently in place (hint: don’t pay too much for the basis!) They also get into the nitty gritty of the real cost of running a grain elevator and how your policies can help (or hurt) your ability to cover those costs. As always, the anecdotes are free for our valued listeners.
We are joined by University of Arkansas Professor, Dr. Mckenzie, to discuss the grain business and how he has been able to bridge the gap between academia and pragmatic cash grain trading through his career. He also shares with us his perspective about what qualities young people are looking for in an employer as they begin their careers (and it's not what you might think). Finally, we discuss his very intriguing work on the psychology of farm marketing.
We sit down with Fred Seamon, Executive Director of Commodity Research and Product Development at CME Group, to discuss all the buzz and consternation around the corners of the internet for the agricultural world. Of course, we also delve into the zeitgeist of this season. Fred sets us straight on how the commercial side is affected by HFT, algos, convergence, and more. And he does it all in a clear and simple way that even a couple guys from Arkansas can understand.
Long time friend of the show Jeff Reardon spends some time with us going over how the financial side of the business is handling this big rally year. He also tells us how commercial grain business margins are faring this year based on his unique analysis and metrics.
Ashley Bettenhausen (@TheFarmWifey) joins the guys all the way from up north to share her trials and triumphs as a female grain originator from a non-ag background. And of course, she sets the record straight on just exactly how proper spread terminology do.
What does grain merchandising, family business transition, and dog food have in common? More than you might think. Join the guys as Chad takes us down his professional pathway and sheds some light on that ol grain business chestnut, "its different around here."
(Spoiler Alert: it ain't)
It seems like all people in the grain business want is a rally, but why are so many people miserable right now? Your humble hosts delve into the zeitgeist of the big grain rally and discuss what's so difficult about it for the farmer and the commercial. Clear your schedule for half an hour and enjoy this episode nearly dubbed "The China Cut"
The guys chat with CEO/Co-Founder of Bushel Jake Joraanstad, and Chief Market Officer Camille Grade to discuss the way technology is improving the grain business. We hear about the story of this Fargo based Ag-Tech firm and what they are doing to make the grain elevator and farmer relationship more transparent and streamlined. We also discuss what's out there on the horizon for technology advancements in the years to come.
2020 has been the most unique year we’ve had in a while, and spreadz are not immune to this year’s wonkiness. While we haven’t seen this type of spread action in the grain biz in a few moons, they are not unheard of and in fact, once understood, flat & inverted markets can provide the astute merchandiser with both profit and fun. Probably.
Rodney Connor of Indigo Ag fields all the tough questions about how Indigo interacts with the grain business. As a former grain merchant in Northern IL, he acknowledges the company's past mistakes and explains their perspective moving forward and shifts they are making to try and be a valuable cog in the supply chain.
Family grain business operator, blogger, and friend Rob Cogdill of Cogdill Farm Supply in Dunlap, Iowa joins us to share his journey into the family business from the halls of academia, as well as some of the ways he’s been able to de-complicate grain merchandising. Find more info about Rob at www.cogdillfarmsupply.com and www.bullsheet.blog or on twitter @BullSheet_Blog.
The guys delve into all the zeitgeists that have folks riled up about visions of rallies to come this year. Join us as we discuss practical ways to digest the news without the need for all the antacid.
As always, thanks to our sponsor for this episode: Sample Buckets.
The guys discuss worst case scenarios for new crop this year and what commercial grain folks should be doing now to avoid trouble. As always, it’s not rocket surgery, but worth thinking through in a year where space could be more valuable than it’s ever been.
Today, we delve into the policies and contracts that haven’t had a great year (namely rolling basis contracts) and how to improve them in the future. We also get into some of the popular contracts for new crop and which ones you should be tweaking, eliminating, improving, or promoting in the current environment.
In this episode the guys social distance with Scott Hansen, long time WCC employee and fixture of the Iowa school board world. Scott shares with us his take on what is and is not new in the grain business, as well as sharing a few of his stories from the road.
The guys hop on the line with Luke Swenson and Joe Solinger from Bushel to get learnt on how ag tech is being driven in the commercial grain business, all while adhering to proper social distancing guidelines. To learn more about how Bushel is helping the grain industry, please visit them at bushelpowered.com
We are joined once again by our compatriot Jeff Reardon to get a better grasp on what the Payroll Protection Program means for the grain business. Jeff also points out that just like buying and selling grain, when dealing with your lender everything is negotiable until you sign on the dotted line.
What does milo, popcorn, and a good understanding of farm marketing look like? Two words: Adam. Baldwin. Adam Baldwin (@iamyourfarmer) sits down with the guys to discuss the challenges of farm marketing and how he navigates basis and spreads as a farmer. He also discusses the key relationship with the grain elevator in his business and how they can best serve him in this time, including a discussion on elevator apps/websites. We also hear about his popcorn business he has started: Papabaldys.com
We sit down to discuss what our first year of the show has been like with our most requested guest ever: Randy. He gives us the stats and pulls back the curtain on how the sausage is made. We also discuss ideas for the future on how to bring you, the listener, more of what you want.
Join the guys as they host this episode in front of a live "studio" audience, where they interview attendees of the annual Master Management Conference hosted by White Commercial Corporation ( WCC, our employer and one true sponsor ). What makes the conference great? Why do people come back year after year? Does Randy think that WCC stands for "White Claw Convention"? Find out on this week's episode!
What do frozen sump pump pipes, show pig tanning beds and accumulators have in common? More than you might realize. Join us as we delve into the details of some of the most remembered grain cheats of the 21st century. And you thought 2019's discount schedules were a rip off!
The guys delve into the latest corn and soybean basis patterns for this unique crop year. It's a discussion on harvest basis values at different spots around the country, how they have differed from previous years, why basis has acted this way this year, and what actions grain merchandisers should be taking right now and in the months to come.
The Godfather, Tony Soprano, government statistic survey workers, that guy behind a trading screen in Chicago; what do these people have in common? Absolutely nothing. That is unless you're a social media tin hatter who believes in the Grain Mafia. Join us as we shed some light on this dark corner of the grain world.
TRIGGER WARNING: if you routinely participate in FB GMD proceed with caution!
Paying homage to the time honored saying "It takes money to make money", in this first episode of a two part series we delve into the mind of the elevator's lender. Jeff Reardon helps us prove that there's more to your banker than dollar signs in their eyes, and that despite the potential challenges, a successful season depends on a successful financing relationship.
Like sands through the hourglass, the days are drawing nigh for growers to take advantage of no-cost marketing alternatives for their 2019 fall crops. As an elevator, how do you both help farmers make wise decisions on cash flow & costs AND ensure your ability to generate suitable returns to your space? Delve with us to find out these answers and more!
On this episode, we sit down with Cullen Wilson of Dakota Plains Ag Center during the White Commercial Summer Conference. Cullen is lead originator and discusses his philosophy on origination and successful farm marketing as well as a new project he is working on as a resource for farmers in their marketing decisions.
A continuation of the conversation we had previously with Brice Elnicki of Producers Cooperative Association of Girard Kansas.
We sit down with our good friend and creator of the first ever iTunes review of TEC, Brice Elnicki of Producers Cooperative in Girard, KS. In this first of a two part interview, we listen as Brice shares his experiences at grain companies large and small, as well as learn the best practices for unloading railcars of cement. We may or may not have confused "biannual" with "biennial" during the course of the episode, so please, no hate mail.
Many of us in the grain business know that one of the functions of the futures market is price discovery. Lesser known, however, is that price discovery is also a function of the astute grain merchandiser. In this episode we shed some light on how the country elevator can make markets both upstream for the farmer and downstream for the end user, all while getting paid for doing so.
The guys sit down with Blake Early, founder and CEO of Agrihound to discuss the peculiar particularities of the interactions between farmer and buyer. If you'd like to learn more about Blake, his company or his grain contract education platform, we invite you to check out his website at agrihound.com.
In this episode, we rebut the standard views of basis trading and convergence offered by academia. We also discuss the expansion of High-Frequency and Algorithmic Trading and what it means to us in the actual grain trading business. As usual, we refuse to take ourselves as seriously as anyone in the categories mentioned above.