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roarintiger1
Honored Advisor

Unusual market reaction

Seems rather unusual to have this kind of move in the markets today and not have more folks talking about it.

 

Folks must be in shock.  I know the bears probably are.   Smiley Wink

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8 Replies
bkadds
Advisor

Re: Unusual market reaction

RT--hope it does not run out of gas. Any thoughts on where old and new crop corn may go?
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wrightcattle
Veteran Advisor

Re: Unusual market reaction

grain is still pretty cheap and everyone outside the usa realizes that.

 

 

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BA Deere
Honored Advisor

Re: Unusual market reaction

It`s good that everyone is just a little leery of this manna from Heaven, if everyone got prematurely bulled up it might jinx the whole works.  I want this thing to last into the fall so I can get my "4 and 10" for corn and beans respectfully, then after that the rest of you are on your own  🙂 

 

So, everyone, don`t make any sudden movements, move with purpose and if we can just squeeze another 4 months out of this, we`ll be good.

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crophugger
Senior Contributor

Re: Unusual market reaction

Them old tigers are tougher than a bear anyday as far as the report one of two things that really stuck out was on farm soybean stocks are they really there. 

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idalivered
Advisor

Re: Unusual market reaction

BA, i think you can almost do that now.. Jan. corn at the woden location is 3.99. is that close enuf to 4?? My personal "gut' feeling is that there will be some interesting basis coming for old crop soybeans by sept. 1.  https://www.youtube.com/watch?v=HKK4KmDlj8U

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BA Deere
Honored Advisor

Re: Unusual market reaction

Hey Ida, we are close I think Forest City is $3.95 and $9.74, whether we back off a little or this thing keeps going.  At anyrate it`s good to shut those up that were promising "$2.50 corn and $8 beans" for awhile anyway.

 

http://farmersca.com/index.cfm  

 

 

Even cocky David Kruse changed his tune...he lifted his hedges "before the report, now the sky is wide open, like a egg producer whose chickens didn`t catch the bird flu"  ....whadda guy Smiley Happy   that`s all i`m gonna say.

 

https://www.commstock.com/radiobroadcasts.asp 

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Jim Meade / Iowa City
Senior Advisor

Re: Unusual market reaction

Is anyone selling forward in the cash or on the board at these prices, or are  you waiting?

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roarintiger1
Honored Advisor

Re: Unusual market reaction

Jim, I had a basis contract on old crop corn that had to be rolled or sold by the close yesterday........Right or wrong, I sold it.  

 

In my area, there has been a massive amount of corn moving to the ethanol plants or to the elevators in the past month.  I know for a fact that there is much less corn still on the farms than there was.  So this report yesterday is old news as far as the current stocks are concerned. USDA as always, trying to hit that moving target. It's a tough job no doubt.  I am quite sure also that a large amount of the corn that is still on the farm was already contracted before yesterday and much more was probably sold at the end of the day.   JMHO

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