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vrbuck
Advisor

Market opening prices guess

My guess is down 6 in beans and 1 in corn. Trend is your friend. If it works a nickel against me you can't say "see I told you so, na na boo boo".
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7 Replies
peaceman
Frequent Contributor

Re: Market opening prices guess

I have been picking up hedges for a week.  I will clean up this week.  I can't imagine being the only one thinking this way.  If corn continues on this slide we will have $7+ corn within 2 years.  

 

People believe farmers to be flush because of the last few years.  With the drought and the young farmers taking over I would bet 70 to 80 percent of the crop is mortgaged.  The conversations with the bank won't lend well to planting corn.  Most are talking about cutting costs by reducing fertilizer seed pop and acres.  Grass is  a big topic with high priced cattle.

 

Last year we chewed through piles of corn at 4.5+.  I would expect at 3.2 we could grind through enough corn to make things interesting.

 

Ethanol plants are going hard and with the Enogen we will have plants producing more than then they were designed to.

 

I don't know about tomorrow but I believe we are closer to a low that most would think.  I do believe this crop will shrink and then dissappear.

 

IMHO

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c-x-1
Veteran Advisor

Re: Market opening prices guess

my wild guess for the opening:

S - down 3-5

C - down 1

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c-x-1
Veteran Advisor

Re: Market opening prices guess

...and chi W down 5

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Waterlooiowa
Frequent Contributor

Re: Market opening prices guess

It wouldn't surprise me for the markets to go sideways for a while,Harvest is spotty around my area and they are talking about 1-2 inches of rain Wednesday -Friday with temps near 40,The elevators and processors are a long,long way from being full

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c-x-1
Veteran Advisor

Re: Market opening prices guess

s open down 3

 

c down 1

 

w down 3

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aaron-neill
Veteran Contributor

Re: Market opening prices guess

We will be back at not planting enough corn soon.  $7 is very real!  All the predictions here and in SA come with the thought of timely rains.  One or two below trend crops and the ropes will be coming at the farmers necks like in 2012.

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farmerguy89
Advisor

Re: Market opening prices guess

Wow beans up a bit today... Especially after opening down.

Slow harvest?

More observation necessary
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