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

Re: Floor Talk August 26

[ Edited ]

roarintiger1,

 

Well, maybe I'm assuming too much. But, it doesn't seem likely to store last year's crop and this year's (expected large) crop in the same bins. Maybe, there's more storage out there and maybe I've brought up a disregarding topic. I just think that the cards are stacked against those still holding onto old-crop corn, regarding finding higher prices for awhile. At some point, wouldn't you have to build more storage or rent more, if you're going to hold on and wait? And I ask that, considering this environment we are in right now.

 

Mike

 

 

Mike

Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010

Re: Floor Talk August 26

Mike.... We mostly know to the bu as to how many bu of old corn there are out there.... USDA says that there is 1.1 bil..... Im sure that not all of that is being held by the farmers but it there none the same..... not a market factor except for whom ever owns it...... p-oed

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Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010
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Re: Floor Talk August 26

Also.... I might add that local basis will be the decideing factor if an area has had more than a normal amt of old corn stored "On farm".... basis will reflect that big time....p-oed

This information is worth what you payed for it...... :~)
Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
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Re: Floor Talk August 26

p-oed Farmer,

 

Good points and well taken.

 

Mike

Veteran Advisor
roarintiger1
Posts: 1,594
Registered: ‎04-29-2011
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Re: Floor Talk August 26

Would have to have a good sized comeback in prices, but moving the corn into commercial storage is a possibility.  With the slim chance of a significant rally, this could be a crap shoot.  But it is a possibility to make room for the new crop by doing this and not immediately selling.

And who knows?    Maybe the crop isn't quite what we expect.  Maybe our acres are really less than thought.  Maybe SA corn acres will be much lower.  Maybe demand continues to rise.   And maybe we have a lousy planting season.  Lots of maybes out there.

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Advisor
425Cat
Posts: 1,663
Registered: ‎05-14-2010
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Re: Floor Talk August 26

Its never as bad as it seems , never as good as it seems.
Senior Contributor
Jameshh1964
Posts: 286
Registered: ‎03-10-2014
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Re: Floor Talk August 26

Now my game plan was to convert all you guys to organic and pay you the current market price of $11.20/bu for feed grade corn...but then I wouldn't have anything to entertain me! I'm on a mission to put the Chinese organic exporters out of business...lol
Senior Contributor
Jameshh1964
Posts: 286
Registered: ‎03-10-2014
0

Re: Floor Talk August 26

I can't stand buying foster farms chicken knowing they are fed Chinese corn!
Advisor
farmerguy89
Posts: 1,202
Registered: ‎06-30-2012
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Re: Floor Talk August 26

Mike good points