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med503
Senior Reader

why do I listen

All the stuff I read yesterday was saying the report is going to be bearish. Who are these "experts"? If I was wrong as much as they are, I would be unemployed.

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2 Replies
OK_Grains
Contributor

Re: why do I listen

If the "experts" were always right then the market would always be correctly priced.......pretty unlikely.
The fact is that the USDA are losing credibility rapidly after the stocks and acreage report, and the crowd were looking for a lower corn carryout than they got, but it was still sharply higher than last month ( due stocks and acreage ).

Don't quite understand your grievance here, especially given Corn traded 20 lower overnight and 4-5 higher on the open today......

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rayjenkins
Veteran Advisor

Re: why do I listen

what was the bearish news that could have come in today's report??

 

Since June 30, most have been plugging in the entire amount of corn stocks increase into bottom line carryout numbers for both this and next crop year..

 

Considering some of the demand numbers got compressed when carryouts were trying to dip below 700 myn earlier in the year, it should not be a surprise that some of those demand numbers are coming back a little...

 

bullish weather didn't hurt the cause, either

 

independent thinking is a must for survival in these markets...

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