11/03/25 Afternoon CommStock Report – The Farm May Make Money Afterall!

Yeah…grain farmers with average yields are not making money but neither is it as bad as the YouTube click-bait suggests, describing unsold grain/soy bursting grain bins and soybeans rotting in storage. Post-harvest, corn basis levels have improved while soybean basis levels not so much. The soybean supply pipeline must have gotten filled. It would appear to me that our farm, corn/soybeans is going to remain in the black this year because of a record corn yield and being 70% corn. Our soybeans were a loser, with a disappointing 65 bpa yield with a $100 acre loss before a Trump trade aid-ACH and potential farm program payment. When all revenue sources are added up, I would think that soybeans will be close to break-even. Our corn will make money. My son says that his cost of production for corn is $1,050 acre. About 45% was corn-on-corn with 55% corn-following-soybeans or prevent-plant. The yield is believed to be 262.5 bpa, a new farm record for 540 acres of corn. That was very close to our July yield estimate. I said then that I thought it was a record yield. The previous farm record was 261 bpa so that was just barely correct….