I got a hunch

[bkadds]

Ray, where is the wheat gonna come from? Not much of a crop at all down this way and judging by the drought index there might not be much come harvest anywhere. Self-diagnosed backyarditis sufferer here. By the way I am talking hrww.

[Buckley_HF]

Ray, thank you for your thoughts. Always informative.

[Jim Meade / Iowa City]

Which of you will be selling $10 corn?  That is, who will have corn left to sell at $10?  I doubt if I will.  At $10, a lot of demand is going to dry up, it would seem to me.  It would be my guess that corn can't stay over $8 for any length of time.  Exports will be weak.  Ethanol depends on the price of gas.  Feed usage would be diministed as more livestock goes to auction.  I think I'd empty my bins at $9 and maybe before that.

I've talked to a couple of buyers who give me the impression that most of the big feeders have their needs met at last on paper for the year.  how much corn is on the farm?  Truckers are telling me that they've emptied a lot of bins.

Some of the corn didn't go in the bins all that well.  I emptied one storage only bin that had 18.5% corn with a little damage.  Glad it's gone.  The other bins are drying bins and they chould be OK, but quality could still be an issue this year as it warms up.  We may have spoiled grain to sell and no cattle to feed it to.  A neighbor shipped some 19% corn with noticeable damage so he emptied that bin.

[c-x-1]

good to hear the natives rustling about....what is magic about 10, or is it just a "symbol" for a scenario one can't quite concieve of,.... yet.....maybe?

Was there ever a time when 4 dollars was beyond belief?...6 dollars?...8 dollars?.....

Was $10 Chicago Wheat predicted by all in 2008...how high DID it trade...Minneapolis? 

What prices were quoted last summer by an analyst? Where do current world and US stocks/use ratios fall relative to historical ratios?

do some of you feel the USDA might implement an illegal HALT to corn trade starting one day when/if they feel market has lost control? 

How has the USDA disallowed or not, previous markets to not do something it would otherwise "do" without their intervention? 

Simply Q's to consider amongst the hunches going on.

[idalivered]

Jim, I have the same idea. I won't be owning any corn at $10. It will probably be gone at 8.

[giolucas]

Ok the cat is out of the bag!!

I am long Corn and I had all of my employees call around to start buying some corn.   I also, would love this thing to go to $10.00.  Beans to $ 20.00

[Shaggy98]

Name one positive thing that would come out of prices that high?

[ECIN]

1.  Well for one thing Shaggy -- I'd get to buy a higher grade of beer !

2. It would it would keep Jr. in material to b i t c h about for another year ,

3.  I could afford to put inside pluming in for wife - with a washer  -- no more going to the open ditch to do that .

4 . Could get rid of the horse and buck board for a pick up .

5 . buy a NEW black and white TV.

6. Buy the wife enough material so she could make 2 dresses a year !

7. Could go on a vacation to say ?? Shelbyville - 15 miles south of here !

I 'm sorry - I could go on and on , lol

[arnfarm735]

ECIN cont.

8. It would wipe out the Fed. budget deficit since taxing the rich is our only solution to reducing the debt......

9. Union types at John Deere and GMC could get a higher contract.

[Shaggy98]

Still waiting for that reply?