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05-19-2017 10:03 AM
May has about 10 days left.....
In my little microclimate, we are wet....can't do anything in the fields.....no seed in ground yet, and another 1 plus inch of rain last night
and forecasting more for today, and even a little more on Saturday.
had some big moves a day or so ago......but some interesting comments about todays slightly higher trade "bargin hunters".....
so, is that to me, reading between the lines, or market thought, "we're at the bottom"......just checked NC beans are quoted
at 8.43 and milo at 3.00 (corn 3.30). we are seeing good imports, due in part the low value of the dollar.....maybe all of this
bluster over the various president trump "things".....could be making a impact on commodity prices/export sales.
so, with all the uncertain factors.........delayed corn plantings....good export sales, are we about as low as we can go now,
and just "let it ride"......till we hit something to put some premium into the price, and then take some sort of action,
just as advanced sale, or put ?
might even entertain the idea of going long in the market ???
as the Eurythemics sing "here comes the rain again".......
05-19-2017 04:42 PM
The dive yesterday was an economic reaction to another in a long line of unstable government issues in Brazil or argentina.
They come and they go....
This weather delay and constant crop trimming is not in the market yet...... not even a little bit....
Abilene Kansas main street..... today... May 19th Raining 260 miles sw of there and going that way .......
a direct line to des Moines....
05-19-2017 06:34 PM
If my country is in an unstable position where the value of my dollar is dropping fast and looks like it will fall farther, what would I do? I would want to keep my money in something that has value the world over. Like gold. Or corn, beans, wheat... Why would I trade them for a declining dollar in my pocket? The market dive was a joke but a good excuse for the "smart" money to reap a harvest. That's their job.
05-20-2017 09:53 PM
I just drove home from a short week in Dayton, OH. Got a lot of rain there. Some corn can be rowed but some fields look bare. Ponding water. All the way across on I-70, I-74 and I-80 were wet fields. Some with emerged corn, some looked like they haven't been worked at all and some look worked but nothing up.
Everyone convinced the market has to go up must be long or at least waiting to sell when it's higher, right?