Weekly Insights - October 22, 2018

Many surprises in the last week. First of all the weather. We are talking about that 4-letter word again. Britton received 9 inches of it. I would guess that’s after the first 2 melted on the warm ground. A week later I am at a soybean field fire caused by a combine in 60 plus degree temps. I have to believe that the Dakota’s are the only place with weather swings that wild. The 14 day outlook is for mostly mild weather. Hopefully their right for the next 6 weeks so we can get harvest done.

Another surprise…the fuel markets. After a slow but steady increase (with a few exceptions) of fuel prices, the bears have taken hold. Not sure how far this will go. Don’t get me wrong prices aren’t even close to what they were even as recently as July but there has been a downtrend of a dime since this time last week. I realize this is not the end of the rainbow that everyone would like to see but in today’s economy we need to take advantage of every penny we can. Depending on which opinion you listen to, this may continue due to increasing inventory builds, an overestimated usage number, and Iran’s ability to still very actively move crude to China and India causing a selloff. The other opinion is don’t bet the farm (or anything else of value) on recent market action. The rumors of a trade war between the US and China are resurfacing and let us not forget the sanctions on Iran are still set to take place on November 4th. If you are in need of product for harvest, this downturn in the market is an opportunity. Give us a call, we will get you the best product available on the market at the most reasonable price possible.


Thanks for your patronage and have a safe harvest

Brian Beck

 

Transport Price Ruby Fieldmaster 7500 gal minimum

Britton Area

$2.6236**

Aberdeen/Groton Area

$2.5995**

Doland Area

$2.6236**

Forman/Gwinner Area

$2.6228**

**Please call for exact pricing as prices are subject to change at anytime without notice.

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