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c-x-1
Veteran Advisor

Re: Floor Talk May 15

.......or Mike, another way to look at it is......some available supply would increase demandSmiley Wink

 

can't get much tighter than US is currently with +60-70 basis.

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Hobbyfarmer
Honored Advisor

Re: Floor Talk May 15

South America has a bumper crop of corn.

Why is it not selling for $3.50 or $4.00? If there is "no demand"?
sw363535
Honored Advisor

Re: Floor Talk May 15

Mike,   I gotta agree,  If a large exportable supply in SA is not driving prices down to that point, at least in SA, then talking it down is probably not going to do it either.  Unless he is "talking" (hoping) 2-3 years out.  

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rightone
Senior Contributor

Re: Perhaps demand and tight or little supply,

corn basis in the sw plains at $1.05 last week ( been 95 to $1.05 for quite while now ), AND looks like basis this week is in the 1.15 to 1.25 range.

 

sure be nice when some feed wheat starts rolling. 

likely will not be much of that this year as previous years either ( 60 to 70% less acres scheduled for combines due to freeze outs )..

 

at least there appears to be plenty of wheat hay being made.

 

 

ECIN
Senior Advisor

Re: Perhaps demand and tight or little supply,

Pretty interesting read this morning -- don't really where to start here , lol

 

Lets start here in the US , yest that plus 62 tells the story -- the USDA has at what 757 or so carry ? i have read some trade memebers has at what ? low 3's ??  I would have to agree there closer .

 

Hobby -- you asked if there ws no demand --- why isn't S.A. lower -- 3 or 4 bucks , there is plenty of corn down there -- to me it's a false demand -- they have it -- they just can't get it shipped out . yes we have it - we just can't get it to yeah till fall -- were busy shipping beans .

 

South Africa ? well heck yes -- send your ship's on down - we'll have you out in a week .

 

Hobby -- plus 62 -- better refigure that -- plus 62 would gey us even -- that fall basis would be more like minus .25 or 30 then that would be up to 92 cents off todays price .

 

BTW Got done planting corn last night -- first time anyway .

 

Be Safe !

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marketeye
Veteran Advisor

Re: Floor Talk May 15

Hobbyfarmer,

 

Here is the answer to your question. In a note Thursday, the Ag Resource folks report that "Chinese corn futures continue to March higher amid talk of slow corn plantings. Sep corn rallied $.04 to $10.10/bu."

 

I hope this helps,

 

 

Mike

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SouthWestOhio
Senior Contributor

Re: Floor Talk May 15

Mike, I just came in, whats pushing corn up and pulling corn down at the same time today?

 

<<3 hours ago I wrote the above question and just reread it, boy am I an idiot. I meant pushing beans up and pulliong corn down. And I wrote the question on the wrong thread. I think I'll jiust go back out and work in the barn for awhile.>>

 

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