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wcmifarmer
Contributor

?????

What the heck is going on with corn today? Is it just following beans lower?

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4 Replies
marketeye
Veteran Advisor

Re: ?????

Dustin Johnson, EHedger grain analyst, says the funds' position is pressuring corn.

 

"I think it has everything to do with the funds being long 200k+ contracts of corn.  Though the report wasn't that bearish corn, it wasn't bullish either.  They may be giving up on that risk," Johnson says.

 

I hope this helps,

 

Mike

 

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WCMO
Senior Advisor

Re: ?????

Sounds like they need some news -- from Old Farmers Almanac 2015 --

"Summer will be hotter and drier than normal. The hottest periods will occur in mid- to late June, early and mid-July, and early August.

September and October will be warmer and rainier than normal."

 

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idalivered
Advisor

Re: ?????

Let's put a positive "spin" on this. Demand will continue with this drop in corn. Corn is getting cheaper than hay, sorgum/milo is about all spoken for, even with $45/barrel oil, we can grind corn into sweetener, gas (ethanol) and ddgs, and unemployment is down so locals will be buying real coke,  porkchops,cheap gas, and chicken wings. the guys building suv's for the newly employed will be buying real coke, cheap gas, porkchops and chicken wings. Life is good! While i slowly go broke...

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clayton58
Veteran Advisor

Re: ?????

Isn't it typical that farmers suffer while the rest of the economy booms and vice versa?
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