Floor Talk January 3

[mcginnis1001]

How long before crop experts get nervous about Brazil's soybean crop?

[gbryce]

Remember that 92 mil. ac. at 163 BPA crop we needed, last year?  well I guess maybe we did not need it as bad as we thought. Or will we run out this year?

[idalivered]

good call mt.  My local bids for old crop, look really good compared to a month ago. will you be calling a "top"? My attitude this year and last is that $7 corn needs to be sold. Around half of mine is sold for delivery in the 6's. 

[Mizzou_Tiger]

define top............here basis is positive on corn and flat on soya..........going into summer the corn bid gets pretty aggressive, and soya not too far behind.........

as for BOT..........we have not topped out yet.........if SA weather stays hot and dry for 4-6 more weeks we will see another dollar on corn, maybe close to 2 on soya sometime this year..........

I do agree with you though, see link.........I referrence scaling in around $7.29, or earlier if you cant stand the heat.........

http://community.agriculture.com/t5/Marketing/updated-sales/m-p/141393

with the election year, outside macros, SA, and general politics its hard to say if we see $8 and $14..........

[TNalfalfa]

Are you talking cash or BOT on the $7.29?

[Mizzou_Tiger]

....

[sw363535]

Improving basis can happens in the spring with a bear market.