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BA Deere
Honored Advisor

Overnights, not too bad

Corn down 8 to 9, beans up 3 to 4.   2" to 3" of rain predicted for dry areas.  But in a few hours we`ll see what they`re really going to do with us.   🙂    Oil & RBOB gas is higher.

Retired ISU extension  Steve Johnson was on with Chip Flory and said it`s getting the feel of 2012 where markets rallied to August 10th and dropped on the rumor of the RFS getting cut.  So a caution all it takes is a rumor to take away the punchbowl and back we go to the "cheap food" policy.

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8 Replies
lsc76cat
Senior Advisor

Re: Overnights, not too bad

And here I thought markets didn't open until this morning at 8:30.  Silly me.

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BA Deere
Honored Advisor

Re: Overnights, not too bad

You aren`t silly Lsc76, They associated those prices at this time.  Maybe they didn`t clear the board from last week, but they should have it blank.   But I suppose it will open at 8:30 and down 50¢ and $1

Burchinal
Name Delivery Start Delivery End Basis Month Futures Price Basis Cash Price Fut. Chg.
Corn 07/01/2021 07/31/2021 Sep 2021 592-0 97.00 $6.89 -9-6
Corn 10/01/2021 10/31/2021 Dec 2021 579-6 -30.00 $5.50 -9-2
Corn 12/01/2021 12/31/2021 Dec 2021 579-6 -24.00 $5.56 -9-2
Corn 01/02/2022 03/31/2022 Mar 2022 586-2 -27.00 $5.59 -8-6
Corn 04/01/2022 05/30/2022 May 2022 590-2 -27.00 $5.63 -8-4
Corn 06/01/2022 07/31/2022 Jul 2022 587-4 -27.00 $5.60 -8-6
Corn 10/01/2022 10/31/2022 Dec 2022 503-2 -35.00 $4.68 -2-0
Corn 12/01/2022 12/31/2022 Dec 2022 503-2 -28.00 $4.75 -2-0
Soybeans 07/01/2021 07/31/2021 Aug 2021 1433-2 0.00 $14.33 3-4
Soybeans 10/01/2021 10/31/2021 Nov 2021 1399-0 -60.00 $13.39 3-4
Soybeans 10/01/2022 10/31/2022 Nov 2022 1271-0 -65.00 $12.06 4-2
All grain prices are subject to change at any time. Cash bids are based on 10-minute delayed futures prices, unless otherwise noted. Prices current as of 6:48 AM CST - Provided by cmdty
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roarintiger1
Honored Advisor

Re: Overnights, not too bad

Probably a good thing it didn’t trade overnight. 

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Hobbyfarmer
Honored Advisor

Re: Overnights, not too bad

Hope they are having fun.

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Hobbyfarmer
Honored Advisor

Re: Overnights, not too bad

rain makes grain

What do sprinkles make?

Gray hair, worry lines, markets go down.

The Brazilian, Paraguay droughty, late  planted  frozen corn thing is not factored in yet.

The extent of damage in our nw grain belt is the unknown, but starting to be significant.

Absolutely no guarantee what's gonna be left of it will not suffer an early frost too just for bonus points.

Very poor coverage of a meaningful rain event up there,  So far.

Basis will have to do any lifting of cash prices for at least the near term.

I have been spraying beans last few days, what a Hodge podge out there.

This morning going through beans hitting front axle to drown out spots full of mud yet, all in same pass. The June 4th replant beans need help, that week of wet cool cloudy weather just after they came up did them no favors. Still yellow.

 

Well all I can say is it is an interesting journey we are on.

Keep your stick on the ice...

erikjohnson61y
Veteran Advisor

Re: Overnights, not too bad

Hey, but Cotton is up a penny!!!

rsbs
Veteran Advisor

Re: Overnights, not too bad

BA, your looking at Friday's close and thinking it was the current activity today reminds me of a day when the clouds were all dark around us, we were playing volleyball in the park, and it just showered a little, and I made the comment " wow, looks like it missed us!"

Then the storm came back with a vengence and it rained and rained and rained....nearly ten inches.

Hope this isnt like that, but you never know

"Wet or Dry....sell before the fourth of July"

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roarintiger1
Honored Advisor

Re: Overnights, not too bad

Well, it is before the Fourth of July, 2022. 
Plenty of time to sell.😉

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