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Veteran Advisor

Re: Floor Talk April 8

........been sittin' here watchin' my charts wonderin' why they're not movin'----oh yeah...Drrrrrrrrrr!

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Veteran Advisor

Re: Floor Talk April 8

High yields.....what part of the country are you in??

 

CX----read the article again....US was importing ethanol last July, not corn from SA

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Contributor

Re: Floor Talk April 8

Where is Informa on pre-report estimate ?

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Veteran Advisor

Re: Floor Talk April 8

thanks ray, must not of had my "readers" on, yet.

 

---so, rationing etoh thats refined from corn had begun then......still interesting.......you mighta already known??? 

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Senior Contributor

Re: Floor Talk April 8

   cx, I don't think you understand the importation of ethanol. Sugarcane produced ethanol receives advanced bio fuel RINs. The CARB board in Calif. has set this up to stifle corn ethanol. They claim sugarcane ethanol is more enviromentally freindly, so they have set the RIN value higher 1.5 to 1 for corn based ethanol. This makes importing ethanol in from Brazil  economical at times. Mostly all of last year. Starting in Jan imports ceased as the Brazil gov't requires their ethanol makers to store enough ethanol to get to the next sugar crop. So as of now their is verylittle ethanol being imported.

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Veteran Advisor

Re: Floor Talk April 8

i don't understand much about it.

 so does importation of cane etoh not effect bottom line amount of US etoh production?  thanks teaspoon.

 

 

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Senior Contributor

Re: Floor Talk April 8

Ray,  I'm 45 miles south of Omaha Nebraska.  

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Veteran Advisor

Re: Floor Talk April 8

Highyields....given that location I would say the corn is likely hedged and either may be sold for delivery/loading in the next 60 days, or might likely be sold by the time May futures go into delivery.....

 

we own big chunks of corn from commercial elevators for the next 2-3 months as well.....but the crop in central Iowa was not big enough to warrant big groundpiles, or at least ones that stayed out very long last fall....

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Senior Advisor

Re: Floor Talk April 8

Could you summarize the marketing behavior of farmers in your area after this last report?

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Veteran Advisor

Re: Floor Talk April 8

It's been about as quiet a ten day stretch as I can remember....

 

now, I do have to say there was heavy movement in the week before the report, including some really big spot delivery days .

 

we went from 70,000 spots per day just before the report----to less than 10,000 per day

 

but there has not been a wholesale change in basis levels.....probably because so much of the corn owned by the commercial elevators is hedged versus May futures.....and the futures to July are inverted....so they are kind of stuck in a bad spot if there is not enough buy side interest to let them sell against their current position....

 

the games people play!

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