Gio / beans

[sw363535]

One more week, "news" continues to be that big Brazilian crop and the "market manipulation" continues to be the possibility of loads rejected ----------- but the export market has another good week.  Looks ilke that 150 carry figure is gone, or imports are up.  Just think we could have had our own beans!

[giolucas]

Hey Sw,

I do not know how much switch of corn to soybean will happen but it will happen.  4 or 5 Million, who knows?  Where are we in corn ratio to soybean 2.5  .  Also, with all this talk about South America it could be tough taking this market higher.  We have been trading 1300 to 1260 range for a bit.  

[sw363535]

We should historically see exports down. If they 0 out the rest of year we are going to finish with bins empty without big import transfusions.
He''ll knows where price will b.

[giolucas]

I think the gurus think that this neverending  South American production and US production will always fill up the pipeline. 

[sw363535]

We may live in a very short house......  Brazil may keep the ceiling from getting too high but exports have done all they can to support the floor.

My minds ??????? is ----- if we have found support for corn in the lower $4 range ---------- and are looking at pricing 14 corn in the $4.5 -5 range ------- is 12 going to buy a lot of acres.  I have my doubts.  2.5 is not that far from historic norms.  

[hanktbd]

Add in that the insuranc guarantee for corn may be above 4.50 and the swith to beans looks even less likely.