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Mizzou_Tiger
Senior Advisor

Re: Floor Talk April 24

Hence defining your risk and time frame.......someone selling a year ahead because they have to is in a much different spot than someone with on farm storage and land that is all paid for........
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Palouser
Senior Advisor

Re: Floor Talk April 24

ExaCTLY!!

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kraft-t
Senior Advisor

Re: Floor Talk April 24

Meaning that John would have his land paid for, money in the bank and time to go traveling. Right?

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kraft-t
Senior Advisor

Re: Floor Talk April 24

Of Course you like his posts. He tells you what most farmers want to hear. "ITS GOING HIGHER"

 

I need to figure out those smiley things!

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GoredHusker
Senior Contributor

Re: Floor Talk April 24

Putting everyone in a box and labeling them something really doesn't seem rational to me.  I have a neighbor who I'd venture to guess has all of his land paid for and on farm storage didn't put a single bushel in his on farm storage last harvest.  He told me the price was just too good in August to justify putting it in the bin.

 

The corn market is trading rather poorly today considering the large purchase overnight.  While the unknown could very well be China, it might also be Japan.  I read a couple of days ago where Japan was no longer in the market for Ukraine corn due to quality issues. 

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Farmerjoe79
Senior Contributor

Re: Floor Talk April 24

I don't even think john farms or owns land. He probably works as a corn buyer and nobody is selling him any.
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luisvieira
Senior Contributor

Re: Floor Talk April 24

Down in Brazil, it seems the weather is still not helping at all. Farmers in the center-western, on the other hand, will have a very strong second crop of corn - what we call "safrinha" here.

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marketeye
Veteran Advisor

Re: Floor Talk April 24

Luisvieira,

 

Good to see you check in. I'm sure the Marketing Talk folks will be interested in whatever updates you provide. I understand there is a severe drought in the northeastern state of Bahia? Even drinking water is at a shortage? The drought is affecting the soybeans in Bahia?

 

The big story is this idea that Brazilian farmers can make more growing corn vs. soybeans. Corn production makes up 32% of all crops harvested. But, in 2-3 years, that figure is projected to jump to 49%, is that correct? Wow!

 

I wonder how the markets will trade that idea and eventually its reality!

 

Soybean production costs come nowhere near corn production costs in the U.S.

 

So, if you could explain this that might be interesting.

 

Thanks again,

 

Mike

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luisvieira
Senior Contributor

Re: Floor Talk April 24

Mike,

 

The drought in Northeastern Brazil is affecting mostly small farmers who plant wheat, corn, sorghum, and beans, especially in northern Bahia, Sergipe, and southern Pernambuco. Droughts in this "semi-arid" region are very common, but this year drought is expected to be the worse in 30 to 50 years. Small rivers are dry, tanks and water reservoirs too. Some of these farmers are losing 100 percent of their crops. Half of the municiplaties in the state of Bahia already declared state of emergency. Livestock is also a problem for those states due to the shortage of pasture.

 

In the western part of Bahia, especially in the city of Luís Eduardo Magalhães, there is a large scale production of soybeans, corn, and cottom. The Association of Growers of Bahia estimates they would lose from 10 to 15 percent of their soybean crop. Compared to last year, the total production would fall 7.1 percent to 3,2 million tons. However, these farmers are being saved by prices. Currently, they are finishing the harvest. The cottom losses are also from 10 to 15 percent. Corn in western Bahia is not affected because it was planted before the drought.

 

Mike, I will be back later with the details on the corn earnings...

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USA ProFarmer
Contributor

Re: Floor Talk April 24

Farmer Joe I was thinking the same as Mizzou_Tiger.  I wish I lived next to him in southern Illinois.  I could eat his mad cow steaks, because of a crazy bet (betting against the american farmer btw).  And I could pick up his land, because he can't market grain.  Rumors of the Chiner man buying grain always brings out the perma bulls.  It must be really bad when it still closes 5 cents lower.

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