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capinegro3901115
Veteran Contributor

USDA report Friday

IMHO could see low at 418-415 dec corn, with some profit taking at that level. Rallies will get sold at 436-439. Any thoughts.......buy the fact for the dead cat bounce.?? Corn crop is going to be big. Peak corn T-

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22 Replies
c-x-1
Veteran Advisor

Re: USDA report Friday

capinegro,

 

how many acres you think will be deducted in C/B, due to PP?

 

fwiw, i don't see any real resistance in corn till 475 or so - it's already taken down the Jan 2010 highs of 426  ---------------maybe  R @ 1320 in soy.

 

thanks

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capinegro3901115
Veteran Contributor

Re: USDA report Friday

That's the bull question. It's the only thing. I think in corn 1.7 mil acres and beans 300k

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c-x-1
Veteran Advisor

Re: USDA report Friday

in June i had heard as many as 7-9 mil total C/B did not get planted - maybe they were by end Jun/beg Jul?

 

read  Reuters art. that ETOH plants been idle for 5 yrs coming back online - so main thing i know looking out over whole mktg yr, as sw has duly noted - is the ginormous corn crop will be cured fairly expediantly.

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c-x-1
Veteran Advisor

Re: USDA report Friday

cap, have you ever seen a chart pattern like this? what is it called? what normally results?

 

ScreenShot055.gif

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rayjenkins
Veteran Advisor

Re: USDA report Friday

500 millon ethanol capacity is less than 200 myn bushels of corn....yes, it is all good, but that is less than 5% increase...

 

nobody is building new plants.......and once the ethanol stocks start to build, which they will over next 3-6 months, the bloom will be off ethanol margins, even with $4.50 corn......

 

might want to put the order for party conffetti on hold for a bit....

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capinegro3901115
Veteran Contributor

Re: USDA report Friday

CX...slow death and no return

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farsider
Senior Contributor

Re: USDA report Friday

Ray, do you know how much ethanol we exported this last year?
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c-x-1
Veteran Advisor

Re: USDA report Friday

cap, I do like your sentiment!

 

the confetti's already been hitting the streets for weeks...........

 

might not want to get too attached to USDA's Sep export #

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rayjenkins
Veteran Advisor

Ethanol exports from US

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