Floor Talk June 25

[Mizzou_Tiger]

Gio

Think of it this way

You rely on a farmer 4 times a day. Three meals a day and a job

I rely on a trader 0 times a day

[giolucas]

MT,

You farmers initiated today's rally in beans?.  That is what I meant.  You crack me up. You are too funny.  Keep crying Wolf and we will take this market up higher for ya.

[giolucas]

MT,

Sorry Charlie, I hate to burst your little bubble, I need you for nothing.   Hey how tall are you?    

[ECIN]

I agree Gio - it do's not depend on one mans crop as to what moves the market - but chit fire - even Herb Zike could see that there are a lot of good farm ground being hurt by this seasons heavy rain - btw I knew Herb all my life - Herb was blind .

I have to agree with the Tiger here - Traders just play the game to make money off of somebodys Fortune or Miss fortune - that somebody is us - who puts up the big bucks and lay's it on the line .

[ihtractortherap]

I can see a day coming where a lot of grain will be bought and sold on a cash basis only without the casino.
Be patient MT basis may have to do the heavy lifting .

[giolucas]

Ken (ECIN),

I didn't want to go there but the farming business has some government programs to help out the farmers against losses. As a trader and business owner I do not have those safety nets.  

Crap, I wish the government could prevent me from trading sometimes.    I am not throwing stones but just stating a fact.  

[IllinoisSteve]

No one hear is trying to take away from the fact you guys had a once in a lifetime corn crop last year.  One you will probably never see again especially when it comes to having a higher average than Iowa.  You guys needed a good crop down there for once.  The fact of the matter is that it does not change things one iota in the minds of the traders and big boys.  I their mind Missouri still doesn't count.  Even after last year.  Sorry, but those are the facts.  If it were still only Missouri and eastern Kansas that were in tough shape this market would still be dropping.  It sucks but that is the way it is.  Oh congrats on last year.  It will probably never happen again.

[westernia80]

GIO,  Traders have a place but I do think you are usually late to the party.  2012 for example, it hadn't rained since sometime in the fall of 2011 and we were planting a lot of corn in Iowa in March in dry dirt.  That's not normal, but all I heard or read was "wow planting is so early this will be a record" and the markets showed it.  All the while the farmers were screaming "we are burning up out here".  How did that work out for you guys in Chicago?  The farmers are ALWAYS the first to know what is going on the ground.  We may mostly see only our back yard but we do pay attention to what is going on elsewhere and know what it takes to grow a good crop better than anyone else.  Nothing personal, just my feelings.

[giolucas]

Westernia80,

I agree with you completely  and you guys are the first to see any destruction because you are on the ground, physically.  Unfortunately, we as traders need to get VERIFICATION from USDA, NASS. (crop ratings)..etc. to trade the factors as a whole.  We cannot rely on one farmer's opinion.  

[Pat in CMO]

 Your last post reminds me of the statement no one ever wants to hear. "I'm from the government and I'm here to help." If the government reports are more trustworthy to traders than actual reports from actual farmers, it's no wonder the markets are such a mess.  Patrick