Week 5 was filled with much anticipation and eagerness in the grain markets. Markets had been doing crazy things since last Friday, when Britain voted to leave the European Union. Brexit, as it was dubbed, played into the US dollar index and that had a big effect on commodities the beginning of this week. After that settled down, everyone was waiting on USDA to release its crop acres report on Thursday. The office was quite busy and everyone was on the phone at various times during the week at the same time. Imagine a New York Stock Exchange room full of bidders all trying to talk over each other. A lot of our clients were always calling in and checking on markets and trying to decide whether to sell or hold on to their grain.During these hectic times, it was up to you to connect the dots in terms of current news and tie them in to make your best guesses on market occurrences.
On Wednesday, I had the chance to go help out with wheat harvest at one of our customer’s farms. It was an amazing experience riding in combines, tractors and semis for most of the day while learning about their operation. The farm also had on-site storage and drying, so it was incredible to walk around and see how everything works. The guys were great and I gained a lot of valuable insight on farming. I also had the chance to set up some GoPro cameras around the place and submitted some photos to headquarters. Today, they let me know some of my photos will be used in future printings for display so that was pretty cool for me. Anyhow, I am off to Texas this next week for a chance to check out another type of facility that ADM operates.