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Senior Advisor

Re: Ok Marketeye

Iowa. IMO, you are wrong with your criticism. What you are saying is that YOU know better, but everybody else can be misled. OK, what's been your strategy before the sea change in grains? Continue on if it's satisfactory. You have no basis whatever to complain about this. None. If you think the viewpoints reported on are too extreme then why can't other inidividuals make their own judgements?

 

All winter analysts of a certain stripe were trying to get everyone ready for the big dump. Wheat below $4, corn with a 2 in front. Were we supposed to censor this or complain about it? I didn't hear you complain. I was more than a bit sarcastic about the world being 'awash' in wheat. As far as I know, it still is. But the price has changed and I think the US sits in the catbird seat because we are 'awash' in wheat.

 

All I can say is corn must be produced at record levels for the forseeable future. Whether anything will be seen of Woden after the corn is all dumped at harvest is immaterial to hearing all points of view and deciding how we will market.

 

If Marketeye did not report what he hears he would be derelict in his job. I make plenty of fun of floor traders and every other type of analyst. I sure don't blame him for reporting it.

Veteran Contributor

Re: Ok Marketeye

I really think we have a pretty decent crop here but not as good as northern Illinois and northern Iowa.  Too much water in June.  I know there will be some really good corn out in your area but there will not be any 300 bu field averages.  Oh someone's yield monitor will hit 300 or above but as far as whole fields dried, shrunk, and put in storage,  there will be no 300 bushel corn.  You have had just a little too much weather of varying types for that to happen.  I would expect to see some county records broken out that way though.  Should be a fun harvest for guys in those areas.  It looks like it will be early and should dry down well.  I think it would take a 14 billion bushel crop to push prices to loan rate.  Demand is just to steady and may possibly grow.  I just can't see any big contraction in usage in the near future.  Fly in the ointment there is if for some reason this thing does go to $5 or higher.  Then we slap the livestock and ethanol producers right back down again.  We don't need that.  As far as what Marketeye reported on Friday I have to admit it was a little strange.  Its not his fault.  He was just reporting what traders were telling him.  The fact that anyone in the trade was making statements like that really does make you wonder what they were basing it off of.  Oh well, I'm sure we'll hear more this week.

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Contributor

Re: Ok Marketeye

Thank you Palouser.

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Senior Contributor

Re: Ok Marketeye

north ia farmer, you're right, I made a mistake in my reference to 'money left on the table' per bushel. I have gone back and corrected that. For those following this thread, here is the paragraph, from a separate posting, that I think sparked 'north ia farmer' to write this posting. In this paragraph, you'll see where I indicate the mistake. An no, there are no periods missing. The broker's reference was not $2.00-$3.00:

 

 

"The fundamentals are in place to move these markets in dollars, one analyst says. Farmers are apparently aggressively selling corn, soybeans and wheat, new and old-crop. They are trying to lock in some of these profits. With projections of $5.00 corn, $12 soybeans, and much higher wheat ahead, farmers could be leaving $200-$300 per acre (CORRECTION: This originally read 'per bushel' and should have read 'per acre') on the table, by selling now," the broker/analyst says. "This kind of market separates the men from the boys, the women from the girls," he says.

 

Mike

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Senior Advisor

Re: Ok Marketeye

Nothing like a little dialogue to get the adrenelyn flowing. I find it quite amusing and entertaining. My target isn't near as high as some folks but sometimes when prices start gaining, my target moves upward with it. I'm pretty sure that whatever the price is. I will want more.

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