Re: QRe: Floor Talk September 11, 2020 (Report Day)
The crops here are almost a month ahead of average... do they know something we don't?
the four day rain total here is right at 2 1/2".
Has mostly came as light rain and drizzle, has not closed all the cracks yet. Even in this 50° weather the beans have become yellower. Most beans are harvested in Oct in this area, next weeks warm weather will put the hurry up on them it appears.
Re: Floor Talk September 11, 2020 (Report Day)
I was thinking it was some new grain buying entity like indigo someone was fleecing.
As usual, everyone kind of misses the big story, Sept beans up 40 at one point. Now, what kind of idiot stayed short in to the last trading day going in to a gov report? Only commercials can even hold positions at this point on the short side. It is kind of like crude oil going negative, a "wow that market is really broken kind of moment" :-0
Kind of the same thing in Sept corn, getting to within 3 cents of Dec, thus negative carry in a big way, when we are supposed to have +2Bil bu in storage? Some funny business going on in the paper trail somewhere. But, why would the coms stay short this late in the game and then get it cramed down their throat? Just makes a guy wonder is all. The last 2 days in Sept corn, up 15 cents, all on ONLY 473 contracts trading, barely more than 2 mil bushels....well, some young kid at a coop somewhere just got a real education. :-)