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juliedavis91849
Veteran Contributor

hauling sand to a desert

makes about as much sense as importing corn from SA to US-

 

Yet, according to this article; we are importing corn.

 

 

South American maize exports into the US-SE remain a negative influence as well with Argentine maize laying into the east coast at +76K and Brazilian maize laying in at +68K.  The two origins lay into Stockton, CA around +104K and +109K, respectively.  On the latter, PNW and West Coast destination bids backed off Tuesday to around +103/105K, so unlikely the gymnastics are still worth it, especially considering quality can always be an issue.  Rose Hill, NC corn bids are posted at +65K, so right at import calcs.  French maize has been pushed out of the equation, but Braz/Argy remain viable candidates for southeast hog and poultry operations, something the corn market is going to have to ration out.  CK/CN has been largely steady around -8.00c, so nothing out of the ordinary there.  Cash corn along the river remains 3-6c below delivery equivalence, but that’s not where the issue lies.  We’ll need to be watchful for any throw-in-the-towel type selling from the farm gate which could depress things to desired levels, but that might be difficult with some hoping for a bullish report at the end of the month.  Fall lows will need to be breached before panic-induced selling shows up, in my opinion.

 

http://halocommodities.com/3182015-morning-comments/

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Palouser
Senior Advisor

Re: hauling sand to a desert

The SE coastal area and California are corn deficit areas. California has often used barley from the Northwest in the past instead. Neither are easily reached from the Midwest with corn hoppers. Water transportation is very cheap. China and the rest of the Pacific Rim is just a step away for us.

 

Corn prices in the Pacific Northwest were above $10 a bu at their highest because that's what it cost to ship it in from the Midwest to ports. Since Washington has the highest corn yield average in the country (250+) there was a lot of interest. We'll probably be back to more normal acreages by this year.

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