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Posts: 784
Registered: ‎11-20-2016
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Re: Mark My Words

I believe there will be some sort of fall rally as endusers try to fill their empty bins with cheap corn and realize that maybe they missed the opportunities with their high basis all spring and summer. If you can hold off until november with temporary storage, plastic bags, etc...whatever it takes, I believe you will be rewarded. FOr sure, you will be rewarded if you can wait until March and later as we are using up more corn than we are producing this year, and possibly more beans too depending on how the weather closes out.

 

I know buyers are looking at the corn carryover in my area, based on published federal commodity loans outstanding, and licking their chops at how cheaply they should be able to procure product while the loans come due each month.

 

I waited just once at a soybean plant to unload beans this summer and that was due to mechanical breakdown at the plant. Never had much of a wait at the corn ethanol plants either or seen any line at all at the local coops. So grain hasn't been moving and I am sure ample amounts are out there. But with all the huge bins that have gone up, maybe there is enough farm storage to hold most of the crop coming.