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Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
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Eyewitness Crop Report

[ Edited ]

If you have a few minutes, I invite you to listen to this grain analyst that is driving through the major Corn Belt states surveying the corn and soybean crops. Pete Meyer, PIRA Energy Group Senior Director of Agricultural Commodities spoke to Marketeye Monday about where he's been, where he's going, and what he is seeing. He has some interesting comments. He also addresses this Friday's USDA June Acreage & Quarterly Stocks Report. I'll give you a hint. This crop report is bullish. To listen, just click the play arrow below.

 

Thanks for taking a few minutes to listen. I'd be interested to hear if you see the same things in the current crop that Meyer is seeing.

 

Mike

Veteran Advisor
Shaggy98
Posts: 4,166
Registered: ‎06-19-2011
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Re: Eyewitness Crop Report

Mike, does that mean you give us permission to go long before Friday?  LOL

Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Re: Eyewitness Crop Report

Shaggy98,

 

Well, I don't know. As Pete puts it, it looks like the focus could be on the stocks numbers.

 

Mike

Veteran Advisor
Shaggy98
Posts: 4,166
Registered: ‎06-19-2011
0

Re: Eyewitness Crop Report

Nope, too late.  Just got off a conference call with my banker and broker and I mortgaged the farm and put everything on long positions.  My banker said "Are you flipping crazy".  I just lead him to your post and he completely understood.  He said "If it's good enough for Marketeye, It's good enough for me".:smileyhappy:

Veteran Advisor
roarintiger1
Posts: 1,594
Registered: ‎04-29-2011
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Re: Eyewitness Crop Report

[ Edited ]

"Too many things have to go right just to get to an average yield."

 

That pretty much says it all.

 

I also heard of a well known bearish market advisor that just this morning was calling on his clients to BUY BACK their forward new crop corn contracts..........

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Esteemed Advisor
sw363535
Posts: 4,677
Registered: ‎07-18-2011
0

Re: Eyewitness Crop Report

Thanks mike, Hard to beat a real observation.  What a wild time we are living through.

sw
Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
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Re: Eyewitness Crop Report

Shaggy98,

 

Oh boy! I hope they have blue-striped suits where they could send me. Blue's my favorite color.

 

Mike

Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Re: Eyewitness Crop Report

sw363535,

 

Yeah, that's what I thought. When I listened back to the interview, it sounded like something the 'folks' in Marketing Talk would enjoy hearing. I'm glad you liked it.

 

Mike

Esteemed Advisor
sw363535
Posts: 4,677
Registered: ‎07-18-2011
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Re: Eyewitness Crop Report

[ Edited ]

Farmers need someone to verify ----- we do all fixate on our area.  But you don't come out of a mess like last year with normal.

no subsoil in vast areas and when rains come back they tend to follow a path of feast or famine.  Thats all expected but the super late spring just complicates it all.  Good corn here is 9-11 leaf and not waist high.  Would look like great stuff the last week of May.

 

More issues than last year and I bet there will be areas that file drought claims again in 2013.

 

------------------------------

Sometimes i wonder if investors are still believing those testimonies to congress by the seed folks painting that rosey picture of production in the future given for the ethanol debate.  People love to gamble.

sw
Senior Contributor
farsider
Posts: 184
Registered: ‎06-28-2010
0

Re: Eyewitness Crop Report

Preaching to the choir and he didn't hit the good stuff here in Northern IA, southern Mn.