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As crops limp to the finish line….
The good areas appear to be not finishing well and the bad areas remain bad.
This is certainly not the recipe to increase the crop carryover numbers.
Perhaps like last year, we are seeing the lows in the grain markets in August.
Thoughts?
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Re: As crops limp to the finish line….
98°F here fwe minutes ago, not feels like BUT actual temp.
The corn is in hurry up mode and will be mostly done in another w eek of this.
The beans are in "we need a drink" mode if you want us to finish well.
It is not my job to furnish large carry out numbers.
If I contribute to them that's fine.
My job is to maximize profit, rinse lather repeat.
South America's crop outlook at this time is a 70% chance of the drought continuing into next year. Their water run off levels are already at 70 year lows.
We may not need a maximum all time production number to achieve very respectable profit potential.
Could very easily be a sweet spot end of Feb to almost April to merchandise this falls crop.
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Re: As crops limp to the finish line….
The soybean market appears now to have the low price in place.
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Re: As crops limp to the finish line….
as does the corn market....
Feeder cattle are preparing for higher feed costs.