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Senior Contributor
ShelladyOptions
Posts: 939
Registered: ‎05-03-2010
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OptionEye....July 24th

Good morning.

 

The market is giving us a chance to get on board again. Rain on LaSalle St. adding to the slide. A little precip and a hiccup in Spain have sent our markets tumbling.

 

In some weird way I am glad we are having a pullback as in my experience it will give us a chance to shake weak longs and build more support for another rally. If what we are seeing on this crop tour and hearing from the fields is true, the USDA will have to revise their numbers lower again.

 

When will rain not matter anymore for corn? In some parts of the country we are already there.

 

I am as equally concerned about our economy and this 'fiat money' system that we are embracing at the moment. Nothing to back our dollars except for government rhetoric. Watch this space but I think that ultimately these gold prices will look cheap. Hard assets, commodities and metals are the way to go.

 

Scott

 

Senior Contributor
p-oed Farmer
Posts: 398
Registered: ‎05-04-2010
0

Re: OptionEye....July 24th

[ Edited ]

Scott..... I would say that it just might be a good thing that the world is looking at europe instead of the grain markets..... Can't even think as to where we would be if everybody wanted to buy grains like back in 08......p-oed

This information is worth what you payed for it...... :~)
Senior Contributor
ShelladyOptions
Posts: 939
Registered: ‎05-03-2010
0

Re: OptionEye....July 24th

Yes. Maybe you are right. A good diversion at the moment. I am a little afraid of what will happen when everyone else catches on....

 

Advisor
WCMO
Posts: 493
Registered: ‎06-30-2010
0

Re: OptionEye....July 24th

For corn, I'd say rain doesn't matter much anymore anywhere South of I-70.  For beans, rain still matters alot, and we're not getting it.  Plus, we're looking at a couple more days of 100+, before a big cool-down to mid-90's.  Corn is browning up like it's mid to late August.  Beans are wilting, with some dead areas already.

 

Sampled (measured, shucked and weighed) some corn yesterday -- hopefully the worst -- yields below 30, on ground with 120-140 typical average yields.

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Contributor
brokefarmer
Posts: 25
Registered: ‎07-25-2012
0

Re: OptionEye....July 24th

what about all the contracted bu of corn and soybeans that won't be delivered? 

is aflatoxin going to be a problem?