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Senior Contributor

Evening Trade 1/12

Good evening all-

 

CURRENT POSITIONS:

LONG DEC @ 561.75

LONG DEC @ 560.00

 

RECENT TRADES:

BUY DEC @ 561.75

BUY DEC @ 560.00

 

Thought I would start early this evening with the report and all. Bought some Dec contracts today after it was clear the dust had settled, at least temporarily. Will keep a close eye on them this evening. As others have pointed out, the report was not as bearish as the trade would indicate- I think the EOY run-up was just too great and needed to be trimmed. Looking for a steady climb going forward similar to last year. Will pick short spots as appropriate, but the bias is long. I have also heard rumblings (again) of QE3 which can only add fuel to a bull fire. man I mixed some metaphors there!

 

One final thing, at the risk of pissing some people off- some (just a few really) of you farmers really need to get off your self-righteous, me against the world high horse. Some of the complaints I have read today on other threads are ridiculous. If you dont like your job then get another one. The fact is, corn is trading where it was a mere 12 DAYS AGO. Sorry for the rant I just hate complaining. As Ricky Roma said: "YOUR EXCUSES ARE YOUR OWN!"

 

1920 ET

 

Mar trading at 606.50 with heavy volume. Dec at 563

 

2010 ET

 

Seeing some decent movement. Mar now at 610, Dec at 566.

 

 

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4 Replies
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Veteran Advisor

Re: Evening Trade 1/12

NC, it is funny how many people knew USDAs forecast and can bless us with their wisdom, after the report. I was long before report and worked hard during the day to trim my losses. I am still long Soybeans.
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Senior Contributor

Re: Evening Trade 1/12

gio

 

as much as people like to bash them, the USDA is the premier agricultural research institution IN THE WORLD. hands down. in the end they are remarkably accurate in their predictions, given the scope of what they are chartered to do. i understand people getting frustrated with things that are out of their control, but that is part of any business endeavor.

 

and, as i already pointed out- people on this very site were talking about "running out of corn" after the Mar 31 report of last year. of course that didnt happen, but the USDA was spot on then of course

 

btw- glad your beans have bounced back. will be interested to see your move at the next big report

 

 

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Honored Advisor

Re: Evening Trade 1/12

I understand your point and appreciate the comments. But corn is already hard to locate for feeders here. Fact not opinion.
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Veteran Contributor

Re: Evening Trade 1/12

NC I appreciate and respect your posts but I claim BS on this one: the USDA being a premier agricultural research institution.  They should get out of the business. 

 

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