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10-29-2013 08:11 PM
What is going on? Bunge Council Bluffs, Ia has improved their bean basis, West Central Coop has improved their bean basis, and ADM Atlantic, Ia has improved their bean basis. Doesn't make much sense with the idea that the crop is getting larger. Large price drop in Chicago. Did that just dry up sales?
Corn basis levels at WCC is only -10 at Hamlin, Ia and for this time of year at a WCC location that is unheard of. What don't I understand?
10-29-2013 09:01 PM
OR the end user is trying desperately to get the producer to price something (ie. premiumbasis) and futures are not doing and likely will not do the work with regards to the cash market. Local co-ops and feed mills in SW Mn and NW Ia are reporting that producers are storing the crop at home and many using expensive commercial storage looking for a rally in the market in the face of a monster crop and diminishing demand? Historically, a producer owned crop is NOT a bullish signal. My question: what IF the November 8th report shows much larger trend line yields (which looks likely). The producer seemingly doesn't have much credibility with the CME. The producer has been the "cry wolf" guys that reportedly has a poor crop all summer and now we are talking much differently. We will see who ends up holding the bag? It would appear we are about to embark on a very bumpy road. I realize there have been poor areas, but there have been more above aveage areas? Looks to me the bulls are firmly in the crosshairs without a plan going forward? Bulls/Democrats? Seem similar?
P.S. sorry about the Democrat slam, but has anybody gotten their insurance letter yet? What a sad state of affairs. As a veteran it makes me sick to see what is going with OUR country.
10-29-2013 09:51 PM - edited 10-29-2013 09:54 PM
Blue Cross.......My premiums have tripled since the lying sack of crap POTUS said my premium would be going down $ 2,500.00. Now it appears to be in for another 70% increase in December.
We're screwed.....grain price is the least of our worries. Turn up the volume on The Kardashians Honey....All is well.
As for basis....ours has gone to hell here in the last week. Corn under $ 4.00.....DP soybeans now 45 cents till Jan 1.
10-30-2013 06:06 AM
Cyclone grain, thank you for your millitary service. In regard to your insurance query, did you get your crop insurance check yet , also? I will have a decent crop, but will get a sizable crop insurance settlement due to my taxpayer subsidized revenue insurance. The dems want to use the taxpayer's hard-earned money to pay for everything! this has to stop somewhere!
10-30-2013 06:11 AM
BF, i would agree that president obama has been ineffective, but the last 4 years have been the most profitable of my 37 years in farming. I'd hate to complain when i look at my bank statement and loans that are stamped "paid in full". sorry for your misfortune, times will get better with a repub as our next president.
10-30-2013 06:42 AM
Hey Ida, can a president affect our grain and livestock prices? Oh, I know Nox will swear up and down that "W" promoted Ethanol to beat Kerry back in `04.....maybe, maybe not but Ethanol and a few well placed droughts have really added to our bottomlines for the past 10 years.
I don`t it`s even on a president`s radar to help the <2% farmers that are mostly Republican regardless.
With Obama all one could say is that he hasn`t interupted world trade (something that I think needs interupted, but that`s another story) and he has kept a loose monetary policy with what influence that he has on the Fed. Other that that he`s been hot then cold on ethanol, in accordance to the political winds.
If one is going to give Obama any credit for the 5 yrs of good that farmers have had, he`d better be prepared to take the blame for Obama`s last 3 yrs that we are looking at.