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06-24-2013 01:52 PM - edited 06-24-2013 01:59 PM
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.
06-24-2013 02:15 PM
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".
06-24-2013 02:17 PM - edited 06-24-2013 02:19 PM
"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..........
06-24-2013 02:25 PM
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.
06-24-2013 05:07 PM - edited 06-24-2013 05:11 PM
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.