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p-oed Farmer
Senior Contributor

Exports and USDA........

If this morning sale is the Chinese....... One would have to conclude that next weeks corn sales will be will over 2 mmt...... This will IMHO force the USDA to increase there export projections in the WASDE report in April...... This thing is going to get to a point at some time to be almost an impossible situation as I find it hard to believe   that we have that much corn left to sell...... Stay tuned as I think that we are heading into the 4th quarter of this game and the out come is in doubt ........ p-oed

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5 Replies
vrbuck
Advisor

Re: Exports and USDA........

Po-ed it wasn't sold to china, there wasn't any confirmation just like the last rumor in the CBOT.  I would bet it is someone else and the numbers where already figured into the supply and demand.  That is why we settled down 14 on the export news.  It still feels like a pump and dump for some fund tro unload their long positions.

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p-oed Farmer
Senior Contributor

Re: Exports and USDA........

buck..... I agree that it is frustrating trying to fig out these things....... But one thing that we have to respect is very few regular customers buy this much at one time as they prefer to buy breaks in smaller amounts  as they know that the market is expecting them to buy and it does not "spook" the markets when they step in. ...... The fact that somebody felt the need to buy this much at once was a least very interesting and will drive USDA crazy trying to get a handle on exports from here on out...... p-oed

 

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pigeon kilr
Contributor

Re: Exports and USDA........

POED, it was a China Purchase and the market knows that also. Trouble is the USDA already has projected China to take 40million of old crop and a couple million here or there isn't gonna fuel the fire. However, market chatter this afternoon was more corn biz to be announced on Monday????? Sunday night might clue us in as to how much that chat firms or not for Monday's market? 

 

 

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dapper7
Senior Contributor

Re: Exports and USDA........

PK, one million tons old crop is your 40 miilion bushels using rough figuring, like the usda

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pigeon kilr
Contributor

Re: Exports and USDA........

You are correct dapper, I misread tons for bushels. Still though the fact remains that the USDA already had them projected to take that amount. So we wait to see if the buzz this a afternoon confirms fresh biz.

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