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vrbuck
Advisor

Here comes the bad close

I think the short covering dead cat bounce is done.
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6 Replies
Waterlooiowa
Frequent Contributor

Re: Here comes the bad close

With good harvest weather next week and big yields there could be alot of beans sold at harvest or handed over to processors on price later contracts.We rallied roughly 75 cents from the low,there isn't much under the market till 9.15,if we take out 9.04 8.30 isn't impossible.

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coup1479172
Contributor

Re: Here comes the bad close

Looks like corn, beans, and wheat had another higher weekly close. Two weeks in a row for all three. 

Mizzou_Tiger
Senior Advisor

Re: Here comes the bad close

Going into a huge harvest weekend with a huge week ahead with a relentless bear market for months and that's all the selling pressure they could muster

Sorry but it wasn't that impressive. IMO the NA crop is baked into this market. Eyes to SA and they have issues already
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giolucas
Veteran Advisor

Re: Here comes the bad close

VR,

 

I hope you are incorrect because I need soybeans to get above 955 this week.  The ThREE weekly closes have been higher.

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Waterlooiowa
Frequent Contributor

Re: Here comes the bad close

In my area beans have not dried down and with the rain last week well over half are still in the field.If this week has good weather I think alot of 9.00 beans will be sold to make room to hold 3.00 corn.If we had stayed near the weekly high then we might have turned a corner,but we dropped 25 cents off it without any real news.Alot of guys in my area put up new bins and dryers in the last few years and used the old bins for beans,this fall they are going to be using all their bins for corn,220 is the old 190-200 bpa

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lostiniowa
Contributor

Re: Here comes the bad close

What a difference one county away makes. Unless you haven't done any corn. Bremer county to the north is terrible. Everybody and I mean everybody says their yields are terrible. I am half done and have not had a field do over 167. My APH is 215. Dirt that normally be doing 220 and better is struggling to make 150. Know one guy in the area and he probably has 500 acres out and says his average is 135. Beans were the same way. So the Blackhawk/Bremer county line must be the great divide. Every thing north of me I'm hearing the same thing.

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