cancel
Showing results for 
Search instead for 
Did you mean: 
viperkev
Veteran Contributor

Re: Floor Talk May 29

Thanks for the update Mike. I didn't realize that the funds were getting long the market. Do you know when they first started liquidating positions?

 

Kevin

0 Kudos
Whitesand_Farms
Veteran Contributor

Re: Floor Talk May 29

 Mike, I'm sure this won't hurt the grain prices but the canadian prairies got dumped on again. I will be cleaning out the drill and parking it for another year because the fields will need atleast 2 weeks to dry down. It's a total mess here again, this is the third straight year I have only got half the crop in beause of excess moisture and whats in the ground isnt fairing too well. I'm sure Stats Can will have to revise the acreage numbers down on the next report. The record crop they were foecasting is getting flushed down the toilet more with each rain. Also heard of widespread frosts doing alot of damage to early seeded crops but there wont be a window to reseed

0 Kudos
marketeye
Veteran Advisor

Re: Floor Talk May 29

Whitesand_Farms,

 

When is the next StatsCan report?

 

Mike

0 Kudos
marketeye
Veteran Advisor

Re: Floor Talk May 29

Viperkev,

 

I'm going by Friday's CFTC's report that shows funds covering shorts and going long on corn.

 

Mike

0 Kudos
Whitesand_Farms
Veteran Contributor

Re: Floor Talk May 29

Mike I'm not sure of the date but I know it's sometime in June.
0 Kudos
Buckley_HF
Senior Contributor

Re: Floor Talk May 29

Mike, I am afraid that most condition surveys were filled out Friday and won't show a drop in ratings before the heat really hit hard, thus another reason for the market to go down. Personally we in ECIL are in the same boat as everyone else it seems south of I80. Hot and dry. Need rain. Hope Thursday pans out. Also those ratings are somewhat of a joke in my mind. Know a guy who use to do them. Drive around with a cooler and "check the crops"
0 Kudos
farsider
Senior Contributor

Re: Floor Talk May 29

Seem to be responding to something, (insert bomb dropping whistle sound here) ! Also it's lunch time, could be it too!
0 Kudos
GoredHusker
Senior Contributor

Re: Floor Talk May 29

The way things are going, we're going to have carry built back into the market.  AgResource reported today that we have now fallen to the fourth driest in terms of subsoil moisture since 1895.  A couple of weeks ago, it was 14th.  Last week, it was 7th.  Now, we're the 4th driest in subsoil moisture.  I was in central KS over the weekend.  They were just dipping into the wheat fields.  I asked a guy how it was doing.  He said they had 80 bushel straw and about 35-40 bushel wheat.  The test weight was horrible coming in around 51-52 pounds.  As fast as some of the wheat is turning around here, I wouldn't be surprised if we find the same thing.  I've heard there were a lot of pivots upset in KS as well as northeast NE. 

 

Back to the full carry, I wonder if weather turns for the bad whether or not we'll see the trade start spreading corn opposite of how they have?  The threat has been made of Brazillian corn entering the U.S., so will this cause any traders to sell the old crop and buy the new crop on weather concerns? 

0 Kudos
Hobbyfarmer
Honored Advisor

Re: Floor Talk May 29

"The threat has been made of Brazilian corn entering the U.S.,"

 

We may send them soys and alcohol. What interesting times we live in.

0 Kudos
Hobbyfarmer
Honored Advisor

Re: Floor Talk May 29

Just got a call from my friend/custom operator in Ks about the crop just planted there in the last 10 days.

 

He started the conversation something like "well the wind did a # on your south quarter, all the soil is in the north grader ditch and the road and prairie dog town to the north of is is buiried and only one snott nosed little dog is sifting through the dust looking for his covered up home/hole."

 

He ended his conversation by saying the milo is all up that was planted last Tues and the beans we/I planted last Thursday/ Friday were ALL headed out of the ground and should be able to row them day after tomorrow. His thoughts were that the cover crop/light tillage done early, sealed up the moisture and none much was lost over the weekend. The main change I did when we changed over to soys was to reset the closing wheels with more down pressure to help seal in the moisture after disturbing the ground with the planter openers. BTW we used a planter and not a drill. NEED A RAIN OUT THERE!

0 Kudos