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Futures File

Chasing record yields The Pro Farmer Tour commenced this past week. It’s a tour where the participants travel on routes spanning from Ohio to Nebraska, making stops along the way doing field checks of corn and soybeans. The spot yield checks weren’t all home runs but there were enough to back up the idea that the USDA isn’t far off with its current record yield estimates. If you’ve been paying attention to the weather, you probably weren’t surprised by the results. Illinois and Iowa look to be record outside of northwest Iowa. The eastern part of Nebraska that the tour ...

Futures File

Grain prices slide lower The August World Agricultural Supply and Demand Estimate was released on Monday, Aug. 12. It was a neutral to slightly bullish report for corn and wheat but quite bearish for soybean prices. Yield projections were increased for both corn and soybeans as the growing season thus far appears to be one for the record books. The nationwide corn yield estimate was raised from 181 to 183.1 bu/acre while the soybean yield was raised from an estimate of 52 to 53.2 bu/acre. Both yield estimates would be records if realized. Soybean harvest acres increased 1.161 ...

Futures File

World stock, drop, roll When two weeks ago the stock markets had taken a tumble to close the week out on a weak July jobs report and several other excuses depending on how aggressively, you wanted to frame the pitch of a potential recession. This past week continued the tumble with stocks dropping hard from the opening bell. On Monday, August 5, the Nasdaq, Dow, and S&P all finished more than 2.5% lower on the day. A large move lower especially considering that it was coming off a similar 2-day slide the previous week. Why now? As mentioned, the earlier sell off was seen as a ...

BUILDING PERMITS

City of Minot August building permits – Kyle and Tiffany Yetter, 1112 23rd St. NW, shed, $10,000. – Ricky Hulm, 820 3rd St. SW, storage building, $20,000. – David and Susan Zietlow, Home Vision Construction, 5100 46th St. SW, house addition, $50,000. – Sara Frantsvog, Future Builders, 2633 18th St. NW, foundation for single family home with attached garage, $64,242. – Brent and Kelly Knudson, Four Seasons Construction, 2000 43rd Ave. SE, detached garage, $90,000. – Four Seasons Construction, 2316, 2400 and 2416 Ivory St., single family home with attached garage, each ...

Roller coaster week for stocks

There was a ton of economic data this week to digest, and it was a volatile trade in the equity markets. Fed Chairman Jerome Powell had his monthly press conference, announcing interest rates would remain unchanged this month. He reiterated the goal is 2% inflation using the Personal Consumption Expenditure as his measure, which is currently 2.5% for the last 12 months. (The Consumer Price Index is currently at 3% for the last 12 months.) The door has been open for an interest rate cut as early as September and that door remained open this week with Powell neither confirming nor ...

Minot Chamber announces Eagle Award recipients

The Minot Area Chamber EDC has announced its Eagle Award recipients for June. The recipients are: Aaron Stenvold, SRT; Carol Gunning, Marketplace Foods; Everenn Meier, JC Penney; Durand Jones, Trinity Health; Florence Helde, Target; Cutter Flory, Rainbow Photo Labs; Dr. Mathew Samson, Horizon Family Chiropractic; Rylan Neiszner, Tollefson’s Carpetland; Larry Stenson, Menards; Adriana Puentes, Trinity Health; Kara Klein, Trinity Health; Cory Almy, Minot’s Finest Collision Center; Nicole Klein, Niess Impressions; and Carmen Haugen, Prairie Rose Quilt Shop.