Anyone want to explain to me why corn is up 13?

[rickgthf]

Does anyone want to explain to me why corn is up 13 afternoon 7/3?

[sw363535]

Those who work sold corn in the during th usda report are repositioning and will have protection from the usda fake crop for three weeks.   that is my guess ...... usda just helps define the trend channel ... 

No govt report .... today     back to actually crop supply/demand

And maybe , as I suspect, reuters stories about ASF are just China trade propaganda.... still havent provided many pictures of burial of destroyed hogs.  And they still buy beans in large quantities from wherever.

[Hobbyfarmer]

Lots of newbies to the corn market got stopped out of their Texas hedges and spec trades.

Would be really interesting to know how many millions were donated by the bulled up 20 contracts and smaller traders.

After an eighty cent run up , a pull back to pick the low hanging fruit (weak kneed and underfunded New speculators)  Just my opinion.

[Hobbyfarmer]

BTW the crop is still in trouble. Not gonna be a bin buster in very many places and  a train wreck in huge areas.

Spoiler

[roarintiger1]

Yes. This train wreck of a growing season is happening in slow motion right  before our very eyes.

[Hobbyfarmer]

Rt, how close to you were we 10 days ago when we made  a trip out your way?

We came up from the south  stayed in Bellefontaine then north to Bowling Green then west on 6 to Naponleon then 24 out of state.

Went through Dayton and saw some of the multiple tornado swaths, still a mess.

[roarintiger1]

If you came through Findlay, I am 12 miles west of there.    I'm sure you saw first hand what we've been dealing with all spring and now summer.   

[wrightcattle]

Because corn is getting short in available supply to purchase. 

Heck cash corn is 25 to 40 cents higher than paper corn in many locals. 

Corn should move say $1.30 higher considering the True dismal new crop outlook. 

[swohio]

Hobby

When you were in Dayton you drove right by me. Wish I had known.

[timetippingpt]

Hey Roaring we drove across 30 this past weekend, probably went 12 miles south of you. If it is any comfort, the crops look just like yours all the way from Cleveland to Indianapolis. At least an area covering 4 mil acres by rough calcs.

Neighbors just spotted-in replanted some corn yesterday...plan to mow it off, just didn't want to look at the weeds. 🙂  (Probably around 40 acres of spots in a 100 acre field just so you grasp the complexity of his problem.) We just left ours and will take it to yield on those few farms planted that day, we'll plant a 10 way cover crop mix on the areas we can get to without damaging the rest of the field.