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BA Deere
Honored Advisor

"most hated rally"

Most hated rally as discussed on Twitter, this according to Tyne Morgan. Tommy Grisafi says `because all the experts that told you to sell corn anytime there`s a 4 in front of it, are now advising how to buy out of those contracts`.....Smiley Very Happy     Ironically Tyne`s other guest was...drumroll please....Darin Newsome  Smiley Very Happy  who`s now bullish.   I`m bullish now too and I struggled in high school.  

 

Anyway, the market has a way of serving up a big piece of humble pie to even the biggest egos.  I know this planting delay was so wide spread that it caught everyone with their pants down.  Many (including me) thought in these days of 36 row, 10 mph planters being pulled by Quadtracs that "delayed planting" was a thing of the past.  And I guess my geography understanding of the cornbelt, was once you get out of northcentral Iowa, the rest of the belt was a gravel pit always begging for a rain.  I mean flooding in Kansas??? C`mon! Kansas always needs a rain, right? 

 

But these Gurus that a month ago were telling farmers to sell $3.50 cash corn and they are now prevent planted and wondering how they`ll deliver contracted grain in 4 months that they can`t plant...let`s just say, used car salesmen have someone on a lower ladder rung than them now. 

 

https://www.agweb.com/usfr/#

3 Replies
roarintiger1
Honored Advisor

Re: "most hated rally"

"Here", a buyer at the local ethanol plant called and asked if I had any old crop corn left.  He said some guys are holding on to their old crop corn.........to cover the new crop bushels they have sold this coming fall.   

Wow, talk about a screwed up year.  Their basis had been going up big time in the last three weeks, trying to shake that old crop loose.  Obviously without much success.

roarintiger1
Honored Advisor

Re: "most hated rally"

With the opening in corn tonight, we are now at $5.01 for cash corn........

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hwr247
Senior Contributor

Re: "most hated rally"

just goes to show these people have no idea what they are talking about! all they care about is their commissions! whether u the client makes money doesnt matter one bit. same goes for these internet ag magazines their  goal is to sell ads and write articles about ag related subjects which are nothing but repititious blah blah blah. at least here in the talk forum its experiences and opinions written by farmers

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