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Community Manager
Jeff_a_Caldwell
Posts: 994
Registered: ‎04-29-2010
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B-Team Report for Friday's grain trade

[ Edited ]

Well, the profit-taking's come and gone, and while the overnight and early losses have been trimmed somewhat, the grains are still lower across the board: Nearby corn's 10 3/4 lower, soybeans are 11 3/4 lower and wheat's 20 lower. Sounds like the trade's still eyeballing this "moderate" forecast. But, what exactly is "moderate" when you compare it to 100+ degrees? Still pretty warm, right? Anyway, sounds like this could be the theme the rest of the day as traders trim back some risk ahead of the weekend. 

 

So, is the mercury going to dip at your place in the next few days?

 

___________________________

 

Whoa, Nellie! I guess traders saw yesterday's sharp gains as just the opportunity they needed to take some profits, and that's exactly what they did, sending grain futures sharply lower overnight. And, that tone's expected to spill over into Friday's open outcry session. As of a couple minutes ago, July corn's down 18 1/4 at $6.90 1/4, while July beans are 19 1/2 lower at $15.07 and July wheat's 28 lower at $8.10. Yikes. All eyes remain on the forecast, though, and with an outlook that includes some cooling temperatures over the next few days in the Corn Belt, that's enough to send prices back lower a bit. Here's a little more on that.

 

But, will it last? Even if temps moderate, will it mean any change in your crop conditions? Who's got some pictures of your fields to share? We'd love to see 'em on here! 

 

Anyway, Mike's still probably up to his eyeballs in diapers and pacifiers today, so the B-Team's in. Don't shoot the messenger! 

 

More in a few...

 

Jeff 

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Jeff Caldwell
Agriculture.com Multimedia Editor
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Contributor
johndonn52464840
Posts: 6
Registered: ‎05-14-2010
0

Re: B-Team Report for Friday's grain trade

Isn't the market filling the gap in the chart?

Contributor
Gambler
Posts: 8
Registered: ‎04-29-2011
0

Re: B-Team Report for Friday's grain trade

Cooler temps will just allow everyone to get out in the fields and see how really bad crops look.  no sense risking heat stroke to view drought devastated crops.

Senior Advisor
kraft-t
Posts: 10,784
Registered: ‎05-10-2010

Re: B-Team Report for Friday's grain trade

It's more fun talking about babies than markets anyway. Babies are all about a positive future. A renewal of all that is good about humanity. The best gift that grandmas and grandpas can get.

Senior Contributor
Blacksandfarmer
Posts: 897
Registered: ‎08-04-2010
0

Re: B-Team Report for Friday's grain trade

Jeff the market may be lower but I doubt local basis is. I would imagine elevators have contracts to fill with grain that will never exist come fall.

Community Manager
Jeff_a_Caldwell
Posts: 994
Registered: ‎04-29-2010
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Re: B-Team Report for Friday's grain trade

You are 100% right. Yesterday, basis really tanked, it sounds like. So, think it'll be enough to get anybody to pull the trigger?

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Jeff Caldwell
Agriculture.com Multimedia Editor
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Senior Contributor
Farmerjoe79
Posts: 419
Registered: ‎04-02-2012
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Re: B-Team Report for Friday's grain trade

The only trigger I am pullin is my gun at target practice. This market has got alot of steam left in it.
Senior Contributor
Buckley_HF
Posts: 165
Registered: ‎12-29-2011
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Re: B-Team Report for Friday's grain trade

I don't know if any of you boys have looked at the informa numbers released today but I just saw this from a trader on twitter: informa puts IN #corn yield at 150bpa vs. 146bpa last year, IL at 158 vs. 157 LY and MO at 130 vs. 114 LY. I believe they said 153 national? If I was one of their customers I'd ask for my money back
Veteran Contributor
DW11
Posts: 141
Registered: ‎05-13-2010
0

Re: B-Team Report for Friday's grain trade

I heard about the 153 national and thought what a bunch of dopes.   Who takes them seriously anymore? 

 

Are they pandering to their commercial customers who want a chance to buy low or are they trying to talk the market down to buy in?   Nope, I'm thinking their just dopes!

Senior Contributor
SouthWestOhio
Posts: 519
Registered: ‎05-13-2010
0

Re: B-Team Report for Friday's grain trade

I think Informa is just trying to guess what USDA will project.