Floor Talk February 16
So, let's talk about the markets transitioning to new crop price bias.
As I was asking one of my favorite market sources if Canada's national rail strike would be impacting the farm markets, he replied with some other stuff that you might find interesting. In his own words:
"If it (Canada's rail strike) persists perhaps it could be supportive, to the extent it gums up logistics. Canola is shipped into US, but Canada has not been any more competitive than US in wheat exports. Mike, we will be very quickly transitioning to new crop price bias, in all these markets, beginning with Outlook Forum on the 19th. Then we will be wondering about planted acres, as the survey goes out on March 1st and large report on March 31st. Plus, it's a little dry in the east and Delta. The market is a little worried low prices will have farmers conservative and not planting enough corn."
What do you think?
No farm markets today, due to the President's Holiday. Which President helped the farm markets, historically, the most? Anybody have a favorite?
Here's some history from the American Farm Bureau that takes you back to President's Roosevelt, Hoover, Truman, and even a Kennedy farm policy effort.
Re: Floor Talk February 16
So, this isn't about President's Holiday. But, I am scheming something to get us some higher markets. Awhile back, ABC's "The Bachelor" was in our office. I had a chance to interview him. On the day he was in, the markets rallied 20 cents or so. I gave him a Successful Farming hat and asked him to wear it on the show's final "live" episode, telling him that I think that would get us another 20 cents onto the market. Off-camera, his quote was if a hat gets me 20-cent rally, what would body paint get me?
After last night's two-hour episode, with most of it filmed in Iowa, I'm interested to see if we get the markets to extend the rally from Friday's action, when the trading resumes tonight. With 8 million people watching that program, weekly, surely there are some buyers in that crowd.