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marketeye
Veteran Advisor

Re: Floor Talk April 27

Well, if you go back through all of the "Floor Talk" posts this week, I have them all on there. It really is incredible.

 

What's your best guess for today's market? Do they run up the open, only to sell it off? Or, do they buy the open, sell it off, and then run it up on the close?

 

Mike

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Buckley_HF
Senior Contributor

Re: Floor Talk April 27

Never mind. Just saw where someone tweeted it. 2,845,500 mt. 690,000 old rest new. All this week This is only corn bought by china I believe
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marketeye
Veteran Advisor

Re: Floor Talk April 27

It's looking like that $15 soybean price could get hit today, huh?

 

Mike

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Buckley_HF
Senior Contributor

Re: Floor Talk April 27

I believe it will mike. It's fairly obvious that 6$ and 14$ beans are not rationing much demand? And I believe old crop corn is a few weeks away from having its day in the sun.
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giolucas
Veteran Advisor

Re: Floor Talk April 27

Mike,

 

I am not much of a predicter but I think we take out $ 15.00 maybe we go to $15.15  in the July Soybean contract.  This market has been swinging up and down but it seems that it is just going up.  The daily charts look one way, UP.

 

Maybe we close just a tad above $ 15.00 today.

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marketeye
Veteran Advisor

Re: Floor Talk April 27

Who's out there today? Got a minute to answer a few questions?

 

Can you offer up a few remarks to these questions, please?

1. How high can this soybean market go? Are we headed to $16.00?

2. Will this rally in soybeans spark acreage shifts away from corn, since the corn planting season is going slower than thought, (except for Illinois)?

3. Is it logistically possible for seed dealers to get farmers supplied with beans, if there was a rush on them?

 

Thanks for your time,

 

Mike

 

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Hobbyfarmer
Honored Advisor

Re: Floor Talk April 27

The 2012/13 are feel good #'s in my opinion. They are hedging their future needs as they do not feel the USDA's #'s of $4.50 corn may come true and if it does they are notorious for cancelations.

 

the #'s that are really meaningful are the 2011/12 sales .. the bins are going to be going into harvest empty.

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Farmerjoe79
Senior Contributor

Re: Floor Talk April 27

Sold some new crop beans for 13.50. Thought a guy better start some were.
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Mizzou_Tiger
Senior Advisor

Re: Floor Talk April 27

1. Thought 14.50 to 15 would be stiff resistance.....may go to 2008 highs now....I would still be selling into this rally, your appetite for risk will determine how aggressively......might ask Ray J if he is looking for old crop corn......some of his soya colleugues are looking for soya.......

2. Already happening......

3. This day in age where the majority of soya are mainly bulk, there will be plenty in a short amount of time if need be.....not to mention the natural cushion soya planting will allow some extra time.....

Have a good weekend
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Farmerjoe79
Senior Contributor

Re: Floor Talk April 27

I think a guy is going to be surprised when the acreage report comes out in June. Why not plant beans and own corn on the board. Makes for alot easier fall and beans are more profitable at these price levels.
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