03-02-2013 05:15 PM
03-02-2013 05:37 PM
Farmerjoe79- yes, come to Northern Iowa, I too have never had the corn buyers/sourcing guys call me as much to buy corn as they have in the first week of March/2013. Not even as much as the 1988/89 drought year, this SHOULD BE telling us something I believe. It just HAS TO BE TELLING US SOMETHING!!!!!!!! If not this, then the current excellent, and I mean excellent basis levels.
03-02-2013 05:52 PM
It's pretty simple.....all those phone calls are being made because it is the farmer who is holding the bulk of the ownership of the remaining corn supply.....commercial grain businesses have been selling all along because basis was very strong and the market lacked carry in the board they could capture by rolling out their hedges....
they are talking to the folks who have the corn......if it was the other way around, your phone would not be ringing....
most of those phone calls are counter-productive......when you get that call, it just makes you even more bullish than you were....
03-02-2013 06:57 PM
Farmerjoe79- i am not Ray, as to who you referred to in your post. I believe this really makes no difference to your post anyway.I am thinking $10 corn would be very agressive for corn and certainly a $10 price would bring in a very severe retioning schedule for vorn. In fact, $10 corn rationing is completely UNCHARTED TERRITORY FOR US GUYS. Anybody have any thoughts/ideas on this conpleteing NEW TERRITORY FOR CORN PRICES? As for me, I have no ideas at all.