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03-19-2013 07:23 AM
Just had a message from a farmer friend of mine worrying about the extended outlook of cool and damp weather. Any of you out there echoing those sentiments?
I would guess that by the volatilities in the grain room that not a lot of folks out there are that worried about it. Complacency is ruling the day - in more markets than just commodities.
The world is still worried about the confiscation of savings funds in Cyprus. I think that this an unprecedented move but I also think that there are so many players and bit actors that this is not a simple case of thievery. We shall see how it ends and end it will but I have a hunch that the U.S. economy will dominate thoughts and headlines and we will slowly gravitate back to trading fundamentals.
Grains are quiet with all three up between 1 and 3 cents. Equities are up just a tad and gold is trying to hang on to yesterday's gains.
But the most important thing of the day is that the home Opening Day for the Cubs is 20 days away. Mother nature better cooperate.
03-19-2013 07:34 AM
Ozzie Guillen was right. In the end, in Chicago, it's all about the Cubs! I digress.
Farmers from Minnesota, Wisconsin and South Dakota, that I talked with recently say they think their planting activity could be a month behind last year's pace. Now, granted last year's season was early. But, many of these guys are looking out their kitchen windows and seeing a lot of snow up against the machine shed door, right now. It's going to be awhile before a lot of Upper Midwest farmers go from unhitching the snowplow to hitching up the planter. Is this bullish for the corn market?
03-19-2013 09:32 AM
Area's with good subsoil might have some delays. With our foot of moisture soil profile right now, it would only take a few good days in the 60's-70's after the frost is out and the ground would be more than ready to go. Well, it might soon have a topsoil moisture problem. HIgh's in the 20's here for the first day of spring tomorrow. March madness? It is still all about rain, or lack of rain west of the Miss.
Of course, last year, the growing degrees days are what really sent the crop off to such a quick start. Made those combines roll in Aug.
Might want to upgrade from the cheap seats to watch this show. Does make me realize, that USDA's 163 would be like the Cubs winning the World Series....two years in a row
03-19-2013 01:57 PM
yeah, there was no snow around where I am, during last year. We just had a big snow event too, in that a little bit of snow caused some accidents still.
forecasted rain keeps turning into snow..
we arent ponded.. but we got enough water to go.
Due to the cold, its likely a normal/slow start. cant dictate that all conditions will be ideal at this point. my area is forecast -1 to -3 C lower for the springtime too... like in 2011...