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Advisor

Corn-- where are we going?

Hey guys, where do you think corn futures are going to go? Where do we need to be to breakout? Where will we go if we break through?

Locally, in ontario, 4.30/elevator, 4.70 march @ port, 5.00 going to ny/currency conversion. It's amazing: the exporter is undercutting the millers and ethanol plants now...

Would b interesting to get some momentum and sell 14/15 if we are gonna see some possible below cop years ahead
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Veteran Contributor

Re: Corn-- where are we going?

The 6 month avg is 439.25. IMHO need to close above 440.75 to run to 446 and maybe 454.

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Honored Advisor

Re: Corn-- where are we going?

 

 

 

Corn was mostly supported by fund buying.

–Funds bought an estimated 6,000 contracts as prices moved above the January highs posted following the friendly January crop report.

 

 

The minor rally in the grain markets was somewhat impressive given the negative action in the outside markets.

 

–Crude oil has been over $1.00 per barrel lower.

 

–The stock market is being hit hard with the Dow off by 275 points.

 

•Weekly export inspections were disappointing.

–Corn, beans and wheat inspections were below the average trade estimate.

–Some traders believe that snow storms may have prevented some USDA officials from getting to work and that inspections will be larger in next week’s report

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Senior Contributor

Re: Corn-- where are we going?

–Some traders believe that snow storms may have prevented some USDA officials from getting to work and that inspections will be larger in next week’s report

 

Wow, for the last 12 months all good news was spun by traders as bad news. Is this a reversal of sentiment? Bring on the Bull !!!!!!!

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Advisor

Re: Corn-- where are we going?

It's almost Above 4.40!!! Hopefully this week I'll be a little richer Smiley Happy
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Senior Advisor

Re: Corn-- where are we going?

89, did you get all through with harvest?  I was thinking you told us most of your crop was still in the field.

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Advisor

Re: Corn-- where are we going?

thats correct its still in the field. but if we can start going up, ill have a good market to sell into in march and april if thats what I want to do.

 

I kind of got an idea what my yields are by test weight and counting kernels per 1/1000th acre. my neighbours that did a few fields did well.

 

i wont know what they really are until i get harvest done though.

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Senior Advisor

Re: Corn-- where are we going?

Good luck going forward, how do you sleep at night?

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Veteran Advisor

Re: Corn-- where are we going?

hopefully, he sleeps like the lot of us --- horizontal-like..... and in some sort of bedding devise or material Smiley Very Happy

 

 apologies, my slapsticker just won't quiet down. 

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Advisor

Re: Corn-- where are we going?

What do you mean? Am I afraid it wont be there? I'm usually the first person to harvest 30% corn and generally am anti leave crops outside to the weather. I lost control with the stress of the weather this year and the corn is in the field now.

I'm just a planner. Except I didn't make good plans to market my corn. It's ok, because it wasnt my primary crop.

I'm also very precise.

I sleep like a baby btw.
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