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Frequent Contributor

LEGAL ACTION AGAINST USDA

Can the USDA be held liable for a false report? If they number are way off. Time will tell. Want to contribute to the cause?

7 Replies
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Advisor

Re: LEGAL ACTION AGAINST USDA

rotsa  ruck

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Senior Advisor

Re: LEGAL ACTION AGAINST USDA

Impeach him!

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Veteran Advisor

Re: LEGAL ACTION AGAINST USDA

If they purposely tampered with the numbers to profit from market price then criminal charges could be brought.  Messing up a report, probably not.

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Senior Advisor

Re: LEGAL ACTION AGAINST USDA

Personally I don't think the USDA purposely falsifies report information, but sometimes I think they publish stats and numbers that are extremely vague. Call it a professional uneducated guess. It just seems that when those reports get into our pockets and livelihoods we are all quick to lash back at them with an impulse comment.

It's no different than someone asking us at the grain elevator what a certain field might have yielded and we try to quickly give them an accurate answer by figuring the numbers in our heads only to discover later that our answer wasn't that accurate. We generally error on the side of favorable production and in the end we might be 10% to 15% over stating our actual. Our own individual numbers are only microscopic compared to the numbers the USDA is forced to reveal.
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Frequent Contributor

Re: LEGAL ACTION AGAINST USDA

What does it matter if the report was false or not which it isn't. The macd crossed lower and the break below 12.00 beans confirmed it and then the long money tried to all head out the short door and they are still trying. If the buyers of beans thought this was such a great price and that the world would run out they would have bought up the sell=off in mass today. There is currently a money flow problem, a production problem and a demand problem that are all conspiring against bean price. Its not the usda. If the weather stays favorable history says we are only half way to the bottom in soybean price.

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Frequent Contributor

Re: LEGAL ACTION AGAINST USDA

Question is why is the basis +77 on beans if we have so much of it?

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Veteran Contributor

Re: LEGAL ACTION AGAINST USDA

July contracts come off the board Monday at noon. So I'm thinking basis is off of the Aug contract which is a $1 lower than July.

My question why if you have any old crop beans are u holding them? Sell them and reown if your so bullish in the Jan futures or calls.

 

This bean party could just be in the first hr and the party could go on for a long time. Take wheat down over 10% for the yr. Dec corn down over 10% for the year. Nov beans unchage for the yr is 1135=10%=$10.

 

Fighting the trend, Mother Nature and the tape can be very dangerous. 

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