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03-29-2018 04:28 PM
Trying to figure this out. Last month, 90 million acres each for corn and beans. Now 89 and 88, while wheat is up less than .5 million. So what happened - 2.5 million acres into CRP?? Tell me where those 2,5 million acres went and maybe I'll believe this could be a real rally. Alfalfa? Cotton? Milo? Sorghum? Sunflowers? Sugar Beets? Revert to pasture for cattle? None of those make a lot of sense to me, but they must have gone somewhere. Otherwise, to paraphrase what Arnold would say, "They'll be back!"
03-29-2018 09:46 PM
just prep for the dive it will take in April as usda corrections come and the carpetbaggers fresh off their tech profits, prepare to take land away from the homesteaders. And all the happy voters can pay their cell phone bills with the cash they saved on food.
03-30-2018 08:03 AM
It's easy peasy....lemon squeezy
The last couple times we had a pop in prices the basis was adjusted to absorb the CBOT increase. NOT THIS TIME, at least not yet.
What was not in the report is the Argentine situation. They will be a diminished force in the export of soy meal, and maybe more so of corn.
Very quiet at the Gavilon train loader last couple of days on the incoming side.
Their corn bid is 4¢ higher than the eplant. Have a corn train to load tomorrow.
They were loading trucks with beans to get a 80 Mile ride to the crusher.
I sold two loads to the crusher for delivery immediately for $9.91 yesterday at the close. Hope I look back later and can say I sold too quick.
Monday by noon we'll maybe have a better handle on it.
03-30-2018 10:00 AM
I think that most everyone was shocked by their acreage predictions. With almost instant information these days that is available on the internet, they seem to be having more trouble hitting their moving targets. They need to put away the rifles and get the shotguns out of the gun cabinets for these reports. They might have more success.
03-31-2018 05:33 PM - edited 03-31-2018 05:38 PM
Keep the good handle you have on the real market "supply and local demand" and sell the fake market when there is profit offered.
Anybody notice the article by our old quiet friends at SF noting that Brazil is expecting to have to import US Corn.....???
With these acre adjustments our "marketing SF" friends seem to be ignoring themselves on that issue.... Staying with the "SF Lobby" mantra of downplaying positive news.