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Senior Contributor
ShelladyOptions
Posts: 958
Registered: ‎05-03-2010
0

OptionEye...July 13th

Good morning. (6:30am CST)

 

Dec corn up 10.5 cents

 

Dec wheat up 10.25 cents

 

Nov beans up 24.5 cents

 

Here we go again. The high in Dec corn on the report day was 748. That will probably be our first target technically. Things don't look to be getting any better any time soon. Here comes the heat and I am now finally starting to hear some very seasoned traders say that this could actually be the one we talk about for the next 20 years similarly to 1988.

 

The anecdotal evidence suggests that things are much worse than the USDA has eluded to.

 

The Euro is melting in front of our very eyes. China has hit the brakes and is skidding off the road.

 

Good luck today.

 

Scott

 

Senior Contributor
Farmerjoe79
Posts: 432
Registered: ‎04-02-2012
0

Re: OptionEye...July 13th

Were do you see prices heading if corn crop ratings drop like they did last Monday? I think there is a good chance they will.
Veteran Advisor
c-x-1
Posts: 3,263
Registered: ‎06-26-2012
0

Re: OptionEye...July 13th

Prices will probably have a rough time selling off too much after Mon progress. However, w/ a little rain in IA today might keep a lid on price for today.

 Back to progress report - all eyes on IA again -46 last week - if we get low 30's their + 15+ all states in very poor rating might be impetus for mkt to take off.

   psycological jolt if we see overall good in the 20's, All states below 35 GE, maybe good enough.

Rain in IA not scaring bulls too much as we're only 9 cents from highs. see how we close!

Senior Contributor
ShelladyOptions
Posts: 958
Registered: ‎05-03-2010
0

Re: OptionEye...July 13th

Well, I think we are going to make a good run at $9.00 only because I am not long. When I go long I will let the site know so that you all can become sellers and have a nice Christmas.

Veteran Advisor
c-x-1
Posts: 3,263
Registered: ‎06-26-2012
0

Re: OptionEye...July 13th

Farmerjoe79 (sw will back me on this) - Great, must read art. posted on farmdocdaily today, entitiled, "Rationing, are we there..."

     They present an easy to understand table (consider plugging different #'s in for harvested ac, too) for different scenarios on avg. farm price of corn relative to production!!!

Information that makes you say "Hmmmm."

 

c-x-1

Senior Contributor
Farmerjoe79
Posts: 432
Registered: ‎04-02-2012
0

Re: OptionEye...July 13th

We are not rationing at these price levels yet cause ethanol prices keep movin up with the corn price. We will have to get to the upper eights to see any rationing and it will be not slow enough for what we are goin to raise this year.
Veteran Advisor
c-x-1
Posts: 3,263
Registered: ‎06-26-2012
0

Re: OptionEye...July 13th

I agree!

- was looking @ the radar on www.weather.com & noticed all these pics covering crops and the drought. Is that you Farmerjoe79 in the first 2 photos in cornfield then displaying cobs in hand?

 

c-x-1