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Senior Contributor

Evening Trade 8/1

So it looks like corn tried to sell off on Friday , to no avail. So here we are back in the 680 range. Getting to that point now where you have to think about the report coming up on Aug 11 and plan your trades accordingly. Apparently there is going to be some rehash of the July numbers, which could get interesting. The progress report today was of little interest, mirroring last weeks report. Finally, it looks like the debt nonsense has been resolved. Good thing I guess or we all would have woken up tomorrow wondering what to do. HA

 

1935 ET

 

Sept trading at 682, Dec at 687. Good support for the run up from about 1300 ET today.

 

** my take ** - been long since Wed of last week. was disappointed with the selling Friday but good recovery today. Resilient market, good for making range trades. 

 

2100 ET

 

Still trading in the 680s all the way around. Interested to see if the 690 wall is still there from last week.

 

0720 ET

 

Overnight prices are trading down. Dec hit the 690 wall last night and is now at about 683. I think some private firm puts out a report today, we'll see what they say.

 

** my take ** - happy to get out of my last trade as a wash. not certain whats going on now so I guess I will stay on the sideline until some direction forms.

 

Patrick

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5 Replies
Frequent Contributor

Re: Evening Trade 8/1

I did find the report interesting in that Missouri was down 9%, Illinous was down 6%, Iowa and Indiana both down 5%, Nebraska and S Dakota both down 3%.

 

Borrowed from the other site.

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Senior Advisor

Re: Evening Trade 8/1

You're joking about the debt 'nonsense' being resolved I assume.  Smiley Wink

 

Nothing but a dog and pony show.

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Senior Advisor

Re: Evening Trade 8/1

There was some hint there might be math problems with this report. Some are scratching their heads to make some numbers add up for corn.

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Senior Contributor

Re: Evening Trade 8/1

You guys looked at it a lot closer than I did.

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Senior Contributor

Re: Evening Trade 8/1

One other thing that I thought about the report is...... Look at the states that went down......VS   the states that went up......IA-IL-IN-MO all down...... MI-OH-WI up...... These states being up compared to the states that went down........ Come on USDA......I thought that they used a weighted ave?...... p-oed

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