Jon Scheve

Minneapolis

President, Superior Feed Ingredients and Contributor at Ohio's Country Journal and Ohio Ag Net

Grain Trader; Farm Advisor; Public Speaker; basis, spread & options trader; corn & soybean farmer.

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ocj.com

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Articles

Looking for profit margins in 2025

2 days ago | ocj.com | Jon Scheve

By Jon ScheveDecember corn finished its third week of closing between $4.35 and $4.50. In the last 77 trading sessions, Dec. corn only closed above $4.55 11 times and never above $4.70. No opportunitiesThere have been virtually no opportunities to sell 2025 corn at a profitable value in the past year.
Corn struggles but soybeans look like they have potential

1 week ago | ocj.com | Jon Scheve |Barry Lee Ward

By Jon ScheveThe June USDA report is typically one of the least exciting reports of the year, and this year’s was no exception as it offered few new insights. The trade will now wait for the biggest report of the year on June 30th, when the stocks and planted acreage are released. Corn can’t seem to catch a break. The USDA report wasn’t bearish, but the market took it that way.
Prevent plant may cap national corn acres

2 weeks ago | ocj.com | Jon Scheve

By Jon ScheveOver the last month, July corn has fallen from $4.70 to $4.40. Some of this drop may be attributed to funds going from a long of 350,000 contracts in February to being short 150,000 contracts this week, as seen in this chart:In 2023 and 2024, funds were also short around 100,000 contracts by early June. In 2024, funds continued to push the market down by going to a short 350,000 contract position in July.
Capturing the carry

1 month ago | ocj.com | Jon Scheve

By Jon ScheveUnderstanding spreads in the futures market is important for farmers to hedge their positions effectively and can help to maximize a farm operation’s profitability. What is the spread? The spread is the price difference between two different contract months. For instance, on Friday, May 9, the price for each contract month was:May futures – $4.42July futures – $4.50September futures – $4.29When the nearby month trades lower than the further out month, it is called a carry.
How the export delivery process works

1 month ago | ocj.com | Jon Scheve

Market Analysis, Top Headlines By Jon ScheveI have received requests for an explanation of the corn futures delivery process. So, I contacted my good friend Joe Rich of O’Bryan Commodities to help me summarize this complex process. The delivery process is a big driver of the spreads between futures month contracts. It also determines how much carry is needed in the market or if supply is limited and warrants an inverse to pull the grain out of storage.
Range-bound corn and tariff-impacted sorghum

1 month ago | ocj.com | Jon Scheve

By Jon ScheveThe corn market doesn’t seem concerned with the possibility of tighter stocks, which may mean there is more supply than the USDA is currently estimating. One indication of this is that both wheat and sorghum’s basis values in the southwestern corn belt are much lower than usual for this time of year. This is also pulling down corn’s basis value there, which is unusual.
The great yield debate

2 months ago | ocj.com | Jon Scheve |Doug Tenney

By Jon ScheveNational yields are always highly debated within the trade from when they are first published in the May USDA WASDE report until they are nearly finalized in the January report. It makes sense, because yields are the biggest driver of supply and the quickest way for prices to rally. Each year, the USDA publishes a trend line yield that seems too high for some market participants. Often, it’s because the yield estimate requires a new record or a tying of a previous record yield.
Will the corn rally continue?

2 months ago | ocj.com | Jon Scheve

Crops, Market Analysis, Top Headlines By Jon ScheveThe USDA released their updated supply and demand estimates after the stocks report nearly two weeks ago. Carryout was tighter than many in the trade were expecting. I was anticipating a more significant decrease in corn used for animal feed to offset any export increase. With what we know today, most in the trade seem to find the increased exports number reasonable.
Tariffs, eggs and outlook

2 months ago | ocj.com | Doug Tenney |Leist Mercantile |Jon Scheve

By Doug Tenney, Leist MercantileFor months I have been trying to find Belle-View pickles. They have a sweet chip which pairs splendidly with ham salad. No luck in my local stores. I even braved the throngs at Walmart. Growing frustration increased. I asked friends if they were familiar with that brand.
Pushing to get more soy into domestic aquaculture

Mar 27, 2025 | ocj.com | Jon Scheve

Pushing to get more soy into domestic aquaculture March 27, 2025 Crops, Livestock, Top Headlines Jerry Bambauer of the Ohio Soybean Council is the current vice chair of the Soy Aquaculture Alliance. He tells Ohio Ag Net’s Dusty Sonnenberg that right now they are focusing on domestic aquaculture and trying to incorporate soy products further into their feed industry. Details on that and much more in this featured audio.