08-17-2013 09:54 PM - edited 08-17-2013 09:55 PM
08-17-2013 10:08 PM
08-17-2013 10:33 PM - edited 08-17-2013 10:36 PM
the real Question Doug - is 2.8-2.9 beans enough?.............a bean leg in the works like 2007-08, perchance???
08-17-2013 10:41 PM
What does shake and bake mean? Back in the late '60's, seasoned NCOs were getting hard to find. In order to get some sergeants the Army took a young soldier who had maybe been in for a couple of years and would send him to a 90 day school designed to make him an E-5 buck sergeant, then shipped him off to Vietnam to be a squad leader. The process was called "shake and bake" in reference to the cooking ingredient that was supposed to make a non-cook into a chef. The term was not complimentary.
So, what does shake and bake mean nowdays?
08-18-2013 07:11 AM
I agree that the crop is getting smaller. Southern MN missed most of the rain that was in the forecast the last week, and there was not much left in the tank.
I had some replanted corn that was poised to tassel about a week ago, and still looks the same. The 70's might have made for wild hair, and cars, and TV shows, but don't do a whole lot for crop development.
Should be some good opportunities to price 2013 crops at some point, as end users and exporters at some point are going to have to actually buy the products.
08-18-2013 11:34 AM
I felt that way but, would like to know why you feel that way. Do you feel like the end users are out of gas? The longer this goes the more I feel it could get out of hand for the end users and then go into demand destruction. Something I think some people are starting to think about. Thanks Steve/
08-18-2013 12:44 PM
Still think we will be in that 13 to 13.5 billion range. Probably closer to 13 with warmer temps and not a lot of rain in the forecast. I just don't see funds getting on board to run this market up more than a half dollar even with more weather woes. I think the market has another .40 to .60 in it if large areas continue to stay dry but I think it will stall out there because funds are not going to get back into the game in a big way. Everybody seems to forget that it was largely fund money that took us to $6, $7, and $8 dollar corn. Obviously the mega wild card here is frost freeze dates. If large areas of the cornbelt see early or even normal frost or freezes that changes things. That is probably what it would take to get the funds back into the game in a big way. They are aware of PP acres but if you dump huge losses from a frost or freeze on top of the PP acres I think funds come back in a big way. Until then I really think this market it somewhat limited in where it can go.
08-18-2013 02:57 PM
In response to your comments. Agrimoney has every mega bank of the world declaring to go short this market. Meaning do not come to me and borrow money to hedge your needs. However, many are making a lot of money, like Pilgrim Pride, Tyson Foods and others. It just flabbergast me that a large European bank would care about my corn or bean field.