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Advisor

Re: Floor Talk January 12 (Report Day)

I'm not sure all those soybeans have been harvested yet. We had a lot of guys with maybe 15-20 acres of beans left in their wettest fields here waiting for a freeze. They got the freeze...at least enough to get them harvested...but now the elevators are dealing with 25-30% moisture beans. One elevator in Gibsonburg, OH burned up their dryer the other day trying to dry them.... 

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Veteran Advisor

Re: Floor Talk January 12 (Report Day)

BlacksandFarmer,

 

I'm visiting with a USDA-NASS office director this morning. I will ask him a question similar to that. What else?

 

Tanks,

 

Mike

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Veteran Advisor

Re: Floor Talk January 12 (Report Day)

Mike if you could ask what might USDA need in terms of funding to get reports more timely/accurate so we don't have these extreme swings in the market every time there is a report. With the next farm bill being made it would be nice to see something done to aid that process. Thanks

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Contributor

Re: Floor Talk January 12 (Report Day)

USDA probably doesn't like being told their numbers are wrong.  Too many people thought this was the report they would lower the numbers but  why would they, especially if the crop insurance price is set soon.  Its a waiting game see who can outlast the other.  Should be paying attention more to the fact Geitner is in China trying to get them to do things that our Government wants or needs.  And everyone thought the numbers would be lowered, the art of war,

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Veteran Advisor

Re: Floor Talk January 12 (Report Day)

Ask the USDA if they are short the market since yesterday?

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Highlighted
Contributor

Re: Floor Talk January 12 (Report Day)

Hi Mike,  if you get a chance to ask follow up questions (for NASS) I wonder how hard it would be for them to "show their work".  I think a lot of the doubting and second guessing would go away if they showed us how they come up with the numbers.  For instance they are showing Illinois corn yield the same as last year on the same # of acres but Dec. 1 2011 stocks are down 52 M from 2010          (= 4bu/acre).I know the county where I farm in Illinois had lower yields in 2011 but somewhere there must be some a fair amount better.  Thing is if we could see the raw data we would all see where they(USDA) are coming from and I think it would go a long way toward lessening the mistrust.

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Senior Contributor

Re: Probably due for that 60 cent off

on Fri close too.

 

Corn just plenty high as comped to wheat and milo.

 

Be an over due record book 2 day correction btw.

 

 

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