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Senior Contributor

3 Things to Watch This Morning

Anybody going to brave the cold today and get some corn and beans out of the field? Anybody think this soybean rally can keep rolling? 

 

One interesting thing across my desk the last couple days is this Keystone XL pipeline deal and its potential implications for ag, namely in the shipping sector. Sal Gilbertie with Teucrium Trading told me yesterday he thinks the pipeline would ease the grain rail transportation logjam, especially in the northern Plains. Any other implications, do you think?

 

Here are today's 'Big 3.' What else is on your list?

 

 

13 Replies
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Senior Advisor

Re: 3 Things to Watch This Morning

Enteresting thing about the Keystone Pipeline, John Boehner is heavily in favor of it.  Is it just a coincedence that he has also recently invested in several Canadian oil operations that are all pushing for it's approval?  Huh

 

I'll try to find my recent readings to provide my source.

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Senior Advisor

Re: 3 Things to Watch This Morning

One article is below, several more online.

 

http://www.politicususa.com/2012/01/22/john-boehner-keystone-xl.html

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Honored Advisor

Re: 3 Things to Watch This Morning

You mean the "Mary Landrieu cormemorative pipeline vote"?   Smiley Very Happy    Unless it`s a veto proof vote, it doesn`t sound like it will mean much.

 

 

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Veteran Advisor

Re: 3 Things to Watch This Morning

Is this a first, ethanol futures are higher than gasoline futures?  What does that mean for ethanol demand?

 

On beans, I would say the meal crush would have been higher, but the processors could not source the enough beans with the pipeline dry on old beans in Sept.

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Senior Contributor

Re: 3 Things to Watch This Morning

Hey,

 

I got a question. Does the environmental concerns of the Keystone pipeline also affect farmers? Tks.

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Honored Advisor

Re: 3 Things to Watch This Morning

The pipeline wasn't dry,  they just didn't show enough money to get the last 10%.

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Honored Advisor

Re: 3 Things to Watch This Morning

The USDA rumor mill has it that more than half of the world's stocks/supply of corn is physically in China. 

 

Mike says Brazil is full of it, we just had a record setting harvest (that by the way is not near done in this area) and have it piled to the rafters here too. 

 

Transportation is tied up hauling beans and crude. When is corn going to do the real crash and burn ?

 

Maybe with all that corn China really needs all the beans they can source just to balance livestock rations?.

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Veteran Advisor

Re: 3 Things to Watch This Morning

Hobby, Ray has posted the stats on here before.  The percent of the total corn planted in each district in Iowa.  Farmers below I80, well, we don't count for too much.  You have to ask how big the piles are north of I80 and in S. MN.  Though, it is an outliner year, the first month's corn harvest got sucked up faster than new rat bait in the fall.  But, that was use to make up for the farmers still holding 13 corn.  Between crop revenue checks and commodity loans, cash flow is generated in other ways besides selling cash grain.  As you said, the farmer is usually wrong, so with so many holding...

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Advisor

Re: 3 Things to Watch This Morning

The piles in SWMN are all over.  Thing is we switched from No. 2 yellow to invisible corn.  Oh, by the way we did that with 13 crop, that is what is in the bin yet.Smiley Wink

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