04-04-2013 10:09 AM
I can`t see prices turning around over night, it`ll take a catalyst of some sort to reverse course. Markets can stay irrational longer than you can stay solvent. But, it really isn`t that bad yet, it`s still a whole buck higher than alot of 2012 corn was contracted for, it just seems rough after losing a buck in a couple trading days. As John Burns said `corn will eventually go higher, Bernanke will print more money to buy it`
04-04-2013 10:19 AM
Here are a couple stories that are not friendly for the long term for both soybeans & corn in my mind and as I indicated in a Feb thread.
04-04-2013 11:19 AM
I've got a slug of 2012 wheat, corn, and soybeans sold on basis contracts.... I was following drought monitor and wheat ratings with the belief the wheat market had bottomed out three weeks ago. I'm wondering if I should just bail on the whole works and get on with it?????
04-04-2013 11:39 AM
Problem is the anticipated crop is taking over the market and we may find ourselves back in the position of having see proof that it is not as predicted before we can relieve the pressure to work lower.
IMO----- stability in the 6-6.60 range and sell the basis is possibly the best senerio we have for a while.
IMO-------- the only possibility of ramping back up I see is the smell of rotting beans and corn from SA in the next few months threatning the crop quality-----------or------------- That pesky drought monitor, which might show up as ugly corn acres in July again.