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Senior Contributor
Blacksandfarmer
Posts: 881
Registered: ‎08-04-2010
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Re: Floor Talk June 12 (Report Day)

Pupdaddy, Im probably not all that far from you and we didn't get a drop. I traveled down I-69 last week on my way to Wabash IN. Its soo dry it looked like the highway dept. decided not to mow the median of the highway and use a burndown chemical instead. We cannot afford to miss next weeks predicted rain. Southern Michigan, Indiana, Northwest Ohio and parts of Illinois are going to be in pretty bad shape soon.

Senior Contributor
bkadds
Posts: 301
Registered: ‎04-29-2011
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Re: Floor Talk June 12 (Report Day)

A game changer positive for corn due to bean acres rising?  How many acres dopeople project have changed?

Advisor
Pupdaddy
Posts: 618
Registered: ‎05-14-2010
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Re: Floor Talk June 12 (Report Day)

Blacksand, I'm between Fremont and Tiffin in NW Ohio. There are good looking cornfields around here, and there are lousy ones...but the grass is as you say, all looking like it has been treated with Gramoxone. Late planted beans and corn are struggling...Even my corn planted the 2-3 of May is looking really ragged. Need to put some sidedress on today...not sure if I want to apply as much nitrogen as I had planned....The forecast doesn't look very good for receiving any benefit from it....

Community Manager
marketeye
Posts: 3,098
Registered: ‎05-03-2010
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Re: Floor Talk June 12 (Report Day)

The USDA tried not change much, in regards to corn.
Veteran Advisor
Palouser
Posts: 2,159
Registered: ‎05-13-2010
0

India will NOT be exporting wheat .......

.... as the analysts got WAY ahead of themselves. Few domestic analysts understand India's situation regarding the problems of exporting wheat - at least the floor trader/newswire analysts. This report has happened about 4 years in a row and India has exported no significant amounts yet - and they won't.

 

The reasons for India being unable to export are many but, the primary reason is their system of protections and government procurement for food aid programs that keep domestic prices much higher than global prices. The first hurdle would be subsidizing exports to the tune of at least $50 a tonne to be competitive on the world market. Then the problems of a bureacracy and politics that wouldn't be heavily criticized for delay and political criticism. Then there is a myriad of logistical problems moving and handling the wheat that is too complicated to even start getting into. And finally the mystery of exactly what quality would wind up on a ship - or stranded at a port after being rejected.

 

So, sorry, it ain't happening - again. They will disburse the wheat to states in an effort to reduce malnutrition, even though corruption, diversion and other schemes may reduce its effectiveness.

Senior Contributor
ihmarty543282
Posts: 492
Registered: ‎05-13-2010
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Re: Floor Talk June 12 (Report Day)

And again in WCIN we miss getting a drop. Never fear, the weather man says a 30% chance next Mon.

Community Manager
marketeye
Posts: 3,098
Registered: ‎05-03-2010
0

Re: Floor Talk June 12 (Report Day)

Corn is taking it on the chin today, due to a bearish USDA Report. But, according to co-worker Jeff Caldwell's findings of Iowa curling corn, the day is near that the market will be unable to ignore a stressed corn crop. These three photos were taken Tuesday morning in Warren County, Iowa. Take a look:

 

Curling Warren Co. Corn.jpg

 

More Curling corn.jpg

 

Curling corn leaf.jpg

 

Does this look familiar to anyone in the Midwest that hasn't picked up the necessary rains?

 

Mike

Senior Contributor
Buckley_HF
Posts: 165
Registered: ‎12-29-2011
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Re: Floor Talk June 12 (Report Day)

[ Edited ]
Looks very familiar mike. We didn't get a drop in ECIL yesterday with a 60% chance. Next rain not till a week from now, ha, we'll see. Lots of some of the best corn growing areas in IL is starting to get stressed. Meanwhile USDA is in lala land. Hard for 166 when the 2nd biggest I state is starting to burn up http://www.qtweather.com/showImage.php?url=http%3A%2F%2Fwww.cpc.ncep.noaa.gov%2Fproducts%2Fmonitorin...
Veteran Contributor
glenlivet18
Posts: 119
Registered: ‎06-17-2011
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Re: Floor Talk June 12 (Report Day)

[ Edited ]

Mike, you may be right about corn but don't ever tell the market what it must and mustn't do.  The market calls the shots; we're all just pawns in the game. 

 

By the way it was one year ago on the last early June crop report (June 10 actually) that corn reached its all-time high price of 799 3/4.  I remember watching the screen that day, certain that we were going to see $8 corn. 

Senior Contributor
GoredHusker
Posts: 1,709
Registered: ‎05-13-2010
0

Re: Floor Talk June 12 (Report Day)

Wow, if those pictures are supposed to represent drought stress; I highly urge you guys to venture a little further west to see what rolled corn really looks like.  I have irrigated corn that is rolled more than that, and it's one of the best looking crops I've ever had.  It's no wonder us westerners have tuned a deaf ear to drought talk over the years.  2005 had to be the icing on the cake.