Corn touches $7 just before the close, what's that ....

[rickgthf]

Corn touches $7 just before the close, what's that tell us about tomorrow?

[clayton58]

That we will have a bearish reaction to a bullish report?  Buy the rumor, sell the fact?  Seriously it doesn’t tell us squat, only what one wants to read into it 

[BA Deere]

I think the trade doesn`t want to be caught off guard going into the report.  USDA doesn`t like to fiddle if they don`t have to this early, so probably high acres, high projected yields ..down then up and back to trading the weather.  JMO

[wrightcattle]

China takes it.... That Simple. 

MO.  They'll take corn to $9 by end of August.  Well see. 

[sw363535]

Is it strong buying or not much for sale?

[Hobbyfarmer]

For us producers, doesn't mean anything.

All buyers are into Sept at least as the foundation of their bid.

Somebody did not get out of their spec position and now has to deliver or pay the price.

Can be an expensive education.

Can get really wild the last couple of days before expiration.

Simply traders taking advantage of most likely a newbie.

[wrightcattle]

The eastern Dakota and western Iowa corn inventory is long gone. 

Some elevators say it'll be harvest till there's more corn in lots of local areas. 

So usage has been great exports been great and there was only so much corn product to start with. 

Deal is going higher.  .say 30% higher... 9 to $10 might hold it.... Maybe not too.

Hog margins in China are over the moon record high. 

Heck just on China hog margin corn could easy work at $15.

[Hobbyfarmer]

I know you like sensationalism, BUT the inventory there is not long gone

There are still some white capped mountains of grain there, 

Long plastic bags filled end to end and enough to fill train loads not just a few hoppers.

It will be late this year or next spring they scrape bottom if the heat and no rain show up.

Twenty per cent of the grain belt is on the knives edge of failure, with another 15% not far behind to a lesser degree.

Too early to call the game over...