Commercial storage considerations

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCOn Monday the USDA will release the stocks report and tell us how much grain is still in the bins. In 7 of the last 14 years the stocks for corn were higher than estimates. The good news is that it has only happened 1 out of the last 4 years. The problem is that when the stocks are higher for corn than the estimates they tend to be pretty far off. When the stocks report is smaller than estimates the difference is usually quite small.The bean stocks report has been erratic and hard to predict. However, with the already large carryout any change up or down is probably not as important as what the yields start to look like as harvest begins this upcoming week.There is snow in Montana and it could work its way east. There are forecasts for cool weather working into the Dakota’s and western Minnesota over the next several days. Farmers in these areas were hoping that it would not freeze until nearly Oct. 1. So, it seems as though most of the corn and beans in these areas will make it to maturity. Should I pay commercial storage?Last week I discussed which crop farmers should store at home, if they don’t have 100% on-farm storage. The next storage questions I’m frequently asked are…. What do I do with my grain in a commercial facility? Do I sell across the scale or pay storage?There are three factors to consider:How much does the commercial facility charge to store grain at harvest?What is the current basis level and how much higher could it go at that facility?How much is the interest on the grain stored at the facility? Why aren’t futures prices on the list?Many farmers choose to store unpriced grain commercially because they think prices will go higher later and they want to sell at higher values. However, in reality futures values don’t matter when deciding if someone should pay for commercial storage. If the farmer doesn’t like the current futures prices, they can buy the futures back in a hedge/brokerage account when they sell the cash grain in the commercial storage facility. Their risk exposure is basically the same as having unpriced grain in storage.(Note, there are many different ways to re-own grain. The purpose of this newsletter is not to discuss those strategies but instead look at the decision of paying commercial storage or not.) How much does the facility charge?Storage costs are probably the most important part of the decision to store commercially. As harvest beings some end users have minimum charges while others have dumping charges included with storage fees for a specific amount of time. While costs vary, I’ve found typically storage fees average 5 cents per bushel per month for corn and beans. Why basis mattersThe difference between basis levels at harvest and where they will likely go is the second most important part of the storage decision. Historically basis values increase 30 to 40 cents on average from harvest to the following spring or summer for both corn and beans. The following shows basis levels near my farm for both crops.  Generally speaking, what I have found is that corn basis values increase 4 to 5 cents per month from harvest to late spring or summer, which is slightly less than paying the average monthly storage cost at a commercial facility. Bean basis values increase slower with the higher basis value being seen in late summer. This means that usually beans will only increase 3 to 4 cents per month on average. Loan interest also needs to be consideredLeaving grain in storage means farmers won’t get paid for the grain while waiting for higher prices and their operating note will continue to collect interest. This monthly cost is figured by multiplying the grain’s cash value and operating note interest rate and dividing by 12 months. If cash corn is $3.50 and my operating note is 5.5% interest, it costs 1.6 cents per month to store the corn. If cash beans are $8.25 and my operating note is 5.5% interest, it costs 3.75 cents per month to store the beans. Why I don’t think storing grain commercially is a wise decisionOn average storing unpriced corn costs about 6.6 cents per month. While storing beans commercially is likely to be closer to 8.75 cents per month.  If we assume average monthly basis value increase of 4 to 5 cents for corn and 3 to 4 cents for beans, paying to store grain at a commercial facility doesn’t make financial sense.If farmers have unpriced grain at harvest and can’t store it on the farm, the better solution would seem to be sell the grain at harvest and consider some type of a re-ownership plan to participate in a futures rally. Please email jon@superiorfeed.com with any questions or to learn more. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.last_img read more

Video Tutorial: How to Create Annihilation-Inspired VFX

first_imgLooking for more video tutorials inspired by your favorite VFX? Check out these articles:Video Tutorial: How To Get The Stranger Things LookCreate Transparent Titles Inspired by Dunkirk in Premiere Pro and FCPXCreate a Glow Warp Title Transition Inspired by Marvel’s Thor: RagnarokHow to Create a Star Wars-Inspired Hologram in After EffectsHow To Create a Stranger Things-Inspired “Upside Down” Look In this video tutorial, learn how to use some free RocketStock assets and Adobe After Effects to create Annihilation-inspired VFX.If you’ve seen the trailer for the upcoming Alex Garland film Annihilation, then you’ve seen some of the stunning VFX from the film. In the trailer, we see strange animals, beautiful overgrown forests, and (perhaps most notably) a strange fractal-covered bubble-like wall with interesting colors and textures.Image via Paramount Pictures.In this video tutorial, I’ll show you how to pull off a similar effect using Adobe After Effects and a freebie pack from RocketStock called Nebula. The pack contains 19 4K space background elements created organically and captured in-studio. Although we call these assets space background elements, you can use them for many other purposes and effects. In this tutorial, we’ll use the elements from the Nebula pack to bring interesting textures and colors to the effect, and we’ll use some relatively advanced rotoscoping techniques to help us get there. Tracking The ShotThe first step in almost all VFX compositing shots is to track the shot. In this case, we will need to be able to composite in 3D space.To do this, we’ll use the built-in Camera Tracker in After Effects. Once you have your shot tracked, you’ll select the tracking points in the area where you want to add your textures. In this case, the tree line is where we want to add our effects. Luckily enough, that was the area in the image with the most contrast and tracking data for the tracker to pick up.Select the tracking points you want to use, right-click, and select Create Camera And Solid. This will add a solid in 3D space as well as create a camera for it. For the duration of this project, you can use the position data from the tracked solid to place your textures and effects correctly in 3D space.Rotoscoping the ShotThe next step is to rotoscope the shot.Every shot will be different, as far as this goes. However, in this case, we needed to separate the ground and the character in the foreground from the tree line in the background. That way, we can add all of our textures and effects below that layer, and everything will be separate.This is by far the most time-consuming part of the effect. There are also many different methods for achieving a good rotoscope. Some people choose to use the rotobrush tool in After Effects, and some people choose to do frame-by-frame animation of a mask on the layer.However you choose to do it, be sure that you are very thorough and that you take the time to do the rotoscope right. A very easy way to ruin a compositing effect is to do a bad job rotoscoping.Creating The TexturesTo create this effect, you’ll need to create a texture that looks somewhat like the natural randomness and colors that you’d see on a soap bubble.To do this, create two different layers with the Fractal Noise effect. Alter the contrast and scaling until you get something that you like. Then, on the topmost of those two layers, you’ll add a Colorama effect. Here, you can delete a few of the unneeded colors and change them to the colors that you want. We went with a light pink, baby blue, and faint yellow.Set the topmost layer to hard mode.Then, you’ll use the Turbulent Displace effect to give it the warped bubble look. Add time expressions to the evolution of both layers to allow both layers to animate on their own.Use the Nebula ElementsNow, you can bring in one of the elements from the Nebula pack to create a luma matte for your bubble texture layer.Layer your bubble texture into the shot below your character and ground layers, and make it 3D. Then, you can use the Motion Tile effect to spread the texture across the entire shot. Now, add a fractal ambience element from Nebula above the bubble texture layer, and add the same effects to it until it has filled the shot to your liking.Then set the track mode on the bubble layer to Luma Matte. This will use the luminance values from the Nebula element to reveal the bubble texture where the brighter areas are.From here, you can customize however you like — duplicate layers, add glow, correct colors, etc.If you haven’t yet, be sure to check out the Nebula freebie from RocketStock.last_img read more

You Can’t Have a Slow Day

first_img Essential Reading! Get my 3rd book: Eat Their Lunch “The first ever playbook for B2B salespeople on how to win clients and customers who are already being serviced by your competition.” Buy Now How is it possible to have a slow day? How can you have a day where there’s very little to do, one in which you don’t get much done?The very idea that one can have a slow day tells you more about the person that makes that statement than they might imagine. What it suggests is that they believe they need to do the work that shows up as it shows up. They are doing work in real time. That work probably shows up in their email inbox. This is an indication that the person who had a “slow day” is reactive, passively waiting for tasks to appear so that they can complete them. After completing tasks, they wait for another to present them with work to do.Having a slow day is an indication that tasks are be being assigned by someone else. The work isn’t something they have decided to do because it is important, meaningful work.If one were to be proactive, intentional, taking control of their day, it would be impossible to have a slow day. If you are dictating the tempo, then that pace is going to be whatever you set. If you are designing the work that needs to be done, committing to doing it in 60 to 90-minute blocks, and giving your full focus and attention to those tasks that move the needle, you cannot have a slow day. Instead you have a productive day. You have a day where you produce results that matter. You create outcomes that, were you to look at a highlight reel from the week, would make you look like a superstar.Having a slow day isn’t something that need ever happen to you. It is a choice you make. You can be intentional and productive, or you can be something less than those things.last_img read more

50-0: Floyd Mayweather stops Conor McGregor in 10th round

first_imgBefore a pro-McGregor crowd that roared every time the UFC star landed a punch, Mayweather methodically broke him down after a slow start to score his first real stoppage in nearly a decade. He did it in what he said would be his final fight, against a fighter who had never been in a professional boxing match.McGregor boxed surprisingly well early. But after landing some shots in the first three rounds, his punches seemed to lose their steam, and Mayweather went on the pursuit. McGregor backpedaled most of the way, stopping only to throw an occasional flurry as Mayweather wore him down.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening“I think we gave the fans what they wanted to see,” Mayweather said. “I owed them for the (Manny) Pacquiao fight.”McGregor had vowed to knock Mayweather out within two rounds, and he won the early rounds with movement and punches to the head. But the tide of the fight turned in the fourth round as Mayweather seemed to figure out what he had to do and began aggressively stalking McGregor. Hotel says PH coach apologized for ‘kikiam for breakfast’ claim LAS VEGAS, NV – AUGUST 26: (R-L) Floyd Mayweather Jr. throws a punch at Conor McGregor during their super welterweight boxing match on August 26, 2017 at T-Mobile Arena in Las Vegas, Nevada. Christian Petersen/Getty Images/AFPLAS VEGAS — Floyd Mayweather Jr. figured out a 50th opponent, letting Conor McGregor have the early rounds before stalking him late and leaving the mixed martial artist defenseless and exhausted on the ropes.Mayweather battered McGregor around the ring in the later rounds, finally stopping him at 1:05 of the 10th round Saturday night with a flurry of punches that forced referee Robert Byrd to stop the fight.ADVERTISEMENT “I was a little fatigued,” he said. “He was composed in there, that’s what 50 pro fights can give you.”Mayweather ran his record to 50-0, surpassing Rocky Marciano’s 49-0 record and giving himself a great parting gift. He repeated afterward that he was not going to fight again.“This is my last fight for sure. 50-0 sounds good, I’m looking forward to going into the Hall of Fame,” Mayweather said. “I picked the best dance partner to do it with.”Irish fans arrived by the thousands in the days before the fight, filling the arena for the weigh-in and boisterously cheering for their man. They even went off in the middle of the night and spray painted an Irish flag and “49-1” on a billboard on Interstate 15 promoting Mayweather’s businesses.The capacity crowd at the arena cheered McGregor on, but they quieted as the fight progressed and Mayweather showed his dominance.Sports Related Videospowered by AdSparcRead Next Philippines falls to Vietnam in bronze medal match Don’t miss out on the latest news and information. Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games LATEST STORIEScenter_img Biggest Pogo service provider padlocked for tax evasion Trump signs bills in support of Hong Kong protesters Lacson: SEA Games fund put in foundation like ‘Napoles case’ NATO’s aging eye in the sky to get a last overhaul MOST READ Celebrity chef Gary Rhodes dies at 59 with wife by his side “I turned him into a Mexican tonight,” McGregor said. “He fought like a Mexican.”In a fight so intriguing that it cost $10,000 for ringside seats, McGregor turned in a respectable performance for someone in his first fight. But Mayweather’s experience and his ring savvy paid off as he executed his game plan to perfection.“Our game plan was to take our time, go to him and take him out in the end,” Mayweather said. “I guaranteed everybody this fight wouldn’t go the distance.”Mayweather was widely criticized for not going after Pacquiao in their megafight, and he didn’t make the same mistake this time. In a fight that could make him $200 million he seemed to stagger McGregor with a series of punches in the ninth round, then came back in the 10th eager to finish it off.McGregor went over and hugged Mayweather. He seemed almost happy in the ring afterward, secure that he had given a good performance even in losing.ADVERTISEMENT View commentslast_img read more

Layton slams Harper for ignoring FNs issues

first_imgAPTN National NewsNDP leader Jack Layton blasted Prime Minister Stephen Harper for failing to address First Nations water, housing and education issues in the Conservative’s last, dead-on-arrival, federal budget.Layton said the NDP has taken on a strong stand on First Nations and Metis issues.Layton said the NDP was not yet ready to release its platform.The Liberals have promised to increase funding for First Nations education in their platform, released this past weekend.last_img