From the floor March 31

[jrsiajdranch]

Time thanks for jumping on board this morning. I hoped you wpould.  The problem with the report is that ( I know we say this every year) Can we really do it?  Can we really keep cotton under 13 million acres?

Can we rescue the wheat acres out west?

Can the Dakotas plant that much corn? 

Is the stock number for real? 

ANd then my kicker for the year is does the dollar hold above 75?  ( I don't think it does)

BTW a friend told me in one dairy publication I do not get that there were more cows for sale int that edition then aver in the history of the publication!  I think the term is demand destruction!

BTW when do you think you will be rolling?

[jrsiajdranch]

I thought the presenters made a good point about the VEETEC! Lets scrap it now! 

[jcf97]

Im suprised with the number of corn acres in SD and ND they say are "intended".  "Intended" and "Actual" are going to be very different numbers in my opinion for this year.   Last week in the Mayville, ND area a winter storm came in and dumped 19inches of snow.  Then the flood update came out and they increased the level of flooding for the Red River Valley.  We will not be in early this year at all.  The weather man said  there is another chance of a rain/snow storm heading this way by Sunday.  Sandbags are made and more are going to be needed before its all said and done.

[jec22]

I think the blender's credit should not be renewed.  The mandate is enough. It just goes to the refinery any way. Gasoline futures are 3.11, the E85 pumps are busy, busy around here....would be interesting to know the numbers on E85 sales.  And there is no way you can make the case for direct payments on corn or soybeans, they should be ended.  And crop insurance subsidies should be decreased also. 

Between the nuke disaster in Japan, and the unrest(war) in Middle East....they are game changers. 

As for increase in acres.  Pastures and old building sites are all being brought into production...we are going to plant not just fence row to fence row...we are taking out the fence.  Now those acres are not as productive...but still add to the total.  The big problem is the great weather cycles we had in the past ten years that produced big crops...has changed...back to a more normal cycle...and that means crop problems happen more often.

I hope Smithfield wasn't using their price projections in their contracting plans.

[Pupdaddy]

Has anyone looked at the oat acreage? I have read several marketing consultants opinions..that said if you were speculating, oats might have a pretty good chance of running up with all the acres going to corn and soybeans. Is there legs to that theory?

[dapper7]

pup, somebody believes it. oats limit up!

[Red Steele]

What does the synthetic trade show that corn would be at without limits so that I know what sell order to place for the overnight trade?

I think a lot of corn finally gets contracted as the price should now finally be right for new crop corn.

For soybeans, maybe a another good jump is still in store.

[Jeff_a_Caldwell]

Hey, everybody. Has everybody's blood pressure gone down a bit since earlier this morning? What a deal!

Wanted to let you know we've got this morning's streaming video posted in its entirity from the CME. You can watch all the remarks here.

Also have a little wrap-up story here. 

So, now that the dust has settled a little, what do you think of what we saw this morning?

[dapper7]

red, last i heard, about 25 to 28 higher

[marketeye]

Between $7.25 and $7.28.

I'm also told that the funds have bought 20,000 contracts, on that synthetic market. Funds have bought 8,000 soybean futures contracts and 2,000 wheat.

Hope this helps,

Mike