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Pupdaddy
Advisor

Re: Floor Talk (Report Day) March 28

<<< Needs to get on the mailing list for Faust's comic books. I think he pretty much nailed it this morning...LOL!

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Faust100F
Advisor

Re: Floor Talk (Report Day) March 28

KInda interesting, corn limit down 40 cents, Beans down 39.25, Wheat down 37.75 at 11:15 here in fantasyland.  Boys and girls it doesn't get better than that does it, so much rfor bullish information, Larry, moe, and curley may have published one of their best works. Now the real brains who know jack and live in the real world on this site, can disect this sucker.   Adios Amigos. John

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roarintiger1
Honored Advisor

Re: Floor Talk (Report Day) March 28

It's nice to know that we won't be running out of anything..........Looks like a demand stimulator to me.  Ethanol margins just got a lot better....

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Hobbyfarmer
Honored Advisor

Re: Floor Talk (Report Day) March 28

*

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too close for comfort
Senior Contributor

Re: Floor Talk (Report Day) March 28

Stuck my head out the door and I could hear all the bin doors slaming shut. We all knew it was going to be an interesting summer. It just got a little stranger.

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famfarmer
Contributor

Re: Floor Talk (Report Day) March 28

I think Faust should add Shemp to the USDA braintrust considering this report

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WCMO
Senior Advisor

Re: Floor Talk (Report Day) March 28

Once again, USDA has outdone themselves!  And they wonder why so many of us find these exercises so disgusting!

 

Saw a study done by NASS a few years ago where they attempted to show that the USDA reports do NOT result in significant market moves.  Didn't agree with it then, don't agree with it now.  Their study appeared to me to be based on generalizations/averages of market reactions across all the reports, without looking at specific reports.  Statistics can be made to show whatever they want.  The people that did that study should look at today's reaction.  The "market" isn't any more right or wrong today than it was yesterday.  The only difference was the reports.

 

Will get back to reality over the next couple of weeks.  Ground is cold and damp.  Guys were planting corn pretty far into the southern part of the corn belt this time last year, including this area, and currently looking at 2 weeks (more if it rains or stays cool) to get going, which puts us a week or more behind "normal".  With the continuing dryness out west, recent frost down south, low temps having persisted in the main corn belt to end of March, and subsoil moisture levels marginal for many of us, we're not looking at a record corn planting, much less a record corn harvest.  Of course, things can change, better or worse.

 

Today's drop in prices should encourage buyers to source more supplies and attract more export purchases.  If the bushels are really out there, they should be able to find them.

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Shaggy98
Senior Advisor

Re: Floor Talk (Report Day) March 28

Set back and wait fellas. Look at it as a buying opportunity. Can't believe anyone suspected anything different.
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jec22
Veteran Advisor

Re: Floor Talk (Report Day) March 28

I think the USDA gave us grain farmers a taste of what it feels like to be a Cyprus depositor.

 

 

ag-?
Veteran Contributor

Re: Floor Talk (Report Day) March 28

Usda report may have already shifted acres with this report i can see corn and wheat acres shifting to oil crops. We have late spring developing and costs for fertilizers may also push more to soybeans. This is report the government wants to keep positive consumer numbers coming out to prime this economy. I just wonder where were going to end up because this is surely not going to destroy demand for corn and wheat surely is going to get used up to for feed. Government running large bet here that were going to produce crop to make numbers come out by late next fall and if we don't produce this large crop it could get be really wild ride.

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