Markets and wind storm

[Jim Meade / Iowa City]

Do you think the markets will take any notice of the wind storm that wen tthough the upper midweat?  My opinion is that based on the storm of 98, which destoryed or damaged every building on my farm, and the little drought of 05 that hit SE Iowa and western Illinois, that the market will not notice or will at the most shrug.  

I've seen some reports of considreable amount of green snap.  That plant is dead.  There are a lot of reports of loding and pinching and a lodged plant will drop about 20% in yield.  So, some pretty sick corn might be dead and other might make a fair but not normal crop.

I'm not making any marketing decisions based on the wind.  It's bigger than hail, but still too small to matter, I think.  Do you agree or not? 

[frankne]

In the real scheme of things the wind storm has little affect on things.Just one of the little things that will add up with the other things that are not perfect.

[Pupdaddy]

I opened this thread fully expecting Jim to be comparing the markets to a "fart in a windstorm"....A little levity about them would have been much more fun...LOL

[marketeye]

Jim,

That wind damage was traded yesterday. I'm told it's all about the 10-15 day weather forecast calling for extreme heat. The hot weather is trumping the June 30 Report. In fact, we have gained back all of the losses from that report. I'm hearing that about 250,000 acres might have been wind-damaged. What do you hear? But, the hot weather is what the market is trading right now.

Mike

[Palouser]

Trading heat is the same as saying 'trading physical fundamentals'. 

How often since 2008 have we seen this kind of turmoil result from a report? It does reinforce the idea of 'squaring up' before a report, but let's face it. Somebody with balls and deep pockets could make serious money betting on physical fundamentals. No more corn or beans - or wheat for that matter - were created by the reports. We still have an ending stocks issue to be resolved.

[Jeff_a_Caldwell]

We got some great photos from a few folks around the countryside of the corn damage. Some pretty dramatic pics here, though it sounds like if the conditions were right, some of it will bounce back okay? What do you think?

• See the photos here 

[drivers14]

The markets will more than likely ignore any wind or hail storms as small disaster's in the scheme of things. For those who have had this hit their crops it is very dishearting as you watch your work to acheive excellent crop yields turn into what will more than likely be a slow and troubling harvest.. Its very hard to know what to expect the best you can hope for is that the corn will gooseneck back to some degree of vertical. Take Care