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Hobbyfarmer
Honored Advisor

Let the games begin

Looks to me like we may be off to the races on grain prices.

 

 If wheat survives the frost/freeze thing this week it is going to have the potential to blunt some of the corn gains after June 15th.

Large per acre yield prospects out west.

 

Corn has the augers rattling in the bins. Early planted corn will blur the line between old and new crop in the end of Aug. and beyond. Wheat will be drug along for the higher ride for a little while ...till the yield reports start coming in from that harvest.

 

Beans ...well what can you say but it is the Cinderella crop of the three right now. If it rains much at all it will see more double crop acres than ever in wheat country. May also be more double crop sunflowers in the dryer parts of the western wheat belt. (more oil seed crop to compete with soys).

 

The corn and wheat race may be like a race at the nursing home ... Lots of commotion, not a lot of forward progress.

 

Just a few of my opinions. No money bet at the CBOT, but grain in the bins.

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11 Replies
Hobbyfarmer
Honored Advisor

Re: Let the games begin

As a side note I still have one nice quarter out in NW Kansas that is up in the air as to what will be planted on it. Was going to go Milo but beans are looking like a viable option... easier to harvest and way less trucking.  Still have 3 weeks to figure it out (read as flip the coin).

 

Good thing the grains are hanging in there, the stock market has started it's May slide early. could give a guy a bad attitude if they were both tanking.

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giolucas
Veteran Advisor

Re: Let the games begin

WOW,  I don't know if I am coming or going.  Talk about swings and talk about those large trading companies coming in and moving the market.  I have been in and out all day today with a crap load to buy if we get down to 1425 on May Soybeans.

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glenlivet18
Veteran Contributor

Re: Let the games begin

When the market fails to react to bullish news, it's a good bet that it's going lower.  I'm looking  to sell July beans at 1430. 

 

I don't think today's report was all that much news anyway.  It had probably been priced in already.

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giolucas
Veteran Advisor

Re: Let the games begin

OK, 1425's have been hit and the market is at 1423.  WTF.  Holding on and praying.  C'mon bulls get us up. Daddy has to pay the mortgage Smiley Happy

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kraft-t
Senior Advisor

Re: Let the games begin

Daddy shouldn't be gambling with the mortgage money.  Holding on and praying may produce disappointment on both counts. I used to farm crop shares with the Lord

 and some times he wouldn't make it rain even if it was in his own interest to produce a good crop. Go figure! ha!

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giolucas
Veteran Advisor

Re: Let the games begin

Kraft,
Do you see that smiley face at the end of my sentence? I have been trading for a long time that sometimes you have to laugh otherwise you go insane with these markets.Disappointment is always present, either from losing or from not making enough profit. I am happy I bought at 1425 and took my time to wait for it to tank. Patience my boy patience. Also not worried about mortgage. But do understand how difficult it would be to trade with mortgage money. Too stressful.
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Hobbyfarmer
Honored Advisor

Re: Let the games begin

27.9 degreesF  here a little bit ago high teens in NW Iowa this morn. Then starting tomorrow 4 day moisture event ... Glad my corn/bean seed is in the sack.

 

Started NH3 yesterday evening. 8mph on a 13 knife bar and the tractor didn't even open the governor. The read out was reading 31 acres /hr. wish I had a little bigger bar this year. The ground is working as perfect as I have ever seen it since I started on this farm in 1984. We are starting out with great tilth this year.

 

The eastern edge of SW Iowa here in South Podunk Country at the end of the Rainbow

 

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farmersaw
Frequent Contributor

Re: Let the games begin

may the odds be ever in your favor

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kraft-t
Senior Advisor

Re: Let the games begin

Yep I did see your smiley face and I knew you were joking. Unfortunately, I appeared to be the serious one.

 

It reminds me of lee travino when asked if he thought there was alot of pressure competing on the pro curcuit. He said when you have a $100 bet on a golf match and you don't have the hundred, that is real pressure.

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