05-02-2013 05:32 AM
End users had a nice gift to get coverage at some pretty attractive prices and hopefully are well covered as the normal planting rally gets some legs from cold wet weather. I would expect a run up to challenge fall highs to occur as more bullish news will dominate the news stories until the so-called man on the street feels he needs to buy a few corn/bean contracts to make some money on...which will be right near the top as they are the last to get in. Farmers are in an enviable position with "boots on the ground" seeing what is actually going on and hopefully did not panic and sell on the huge dip.
Uncertainty is our friend and makes us money. Have a great day!
05-02-2013 05:48 AM - edited 05-02-2013 05:52 AM
"Poised" would be one term to use. I prefer "recoiled"........It would give a new meaning to the phrase, "Spring Rally"! Yes, pun intended.
There are only 29 days left in May.
Of course, as the optimum planting window closes, that open flame is getting mighty close to the fuse.
05-02-2013 06:22 AM
05-02-2013 06:31 AM
I was starting to see the "light at the end of the tunnel" until my vision was blurred with-----------Snow!!!! Looks like "snowy day jobs" for the day. After speaking with a few farmers last evening, we concluded that about 15% of the corn did get planted in "our neck of the woods." Central IA
I did see some barn swallows flying around for the first yesterday. Wonder what they are doing today?
05-02-2013 06:35 AM
05-02-2013 06:43 AM
05-02-2013 07:26 AM
05-02-2013 08:00 AM
Hey guys I know I promised to come back like a cicada and post every 17 yes, but this is too much happening to ignore. It is snowing in the Midwest and flooding in the south. The market shows record low carryout% of use and thinks demand has Been killed because we don't have anything to sell. So where does it leave us? As farmers we take for granted that someone saying they can plant 2500 acres of corn in less than a week is blowing smoke ,or inhaling. He could be custom farmed ? Big planters are fast but if he has more than 2 than he is grossly inefficient and two planters would take a support crew and shift work. Anyway guess what these big planters also need? Dry ground. I have a 16 /31 split liquid fertilizer and it is like pulling an anchor. With fertilizer 25 acres an hour if nothing beeps or stops up. Some of your 36 row guys will find every wet spot in your field. What is planted? The worse thing for corn germinating is cold water. Melting snow is cold. Farmers will plant bit just won't be on time and it might not be corn.Get ready for 91 million acres planted and preventive plant in Dakotas. Going forward you know what makes cold nights? Snow cover. Freezing will go further south than thought. That said ,we will have hungry animals in august/September. prices will rise too much because they haven't rationed enough and frost this fall will catch somebody. How sure am I now? I went to 90% heged with cash and puts for corn. I am not bet the farm sure. I advise the same. Thank and being on phone I am sure I havtypoos.. decipher please
05-02-2013 10:10 AM
What is that german word...Schaudenfreude?? you know where you can't help but feel a little giddy when somebody is trying to make a buck shorting the commodity market and gets his privates squeezed so tightly that he screams?
I have sympathy for livestock producers trying to ride out high commodity prices, but not a lot for speculators trying to make a quick strike by shorting and getting burned instead.