What a joke! Isn't it amazing how they raised the "supply" and "knocked down" projected prices. This report is a non event,because like past reports it is not believable, and is being used as a political tool to achieve Black Barry's economic goals. What a f-cking Joke! It will be fun, listening to all those that "know jack" justify this report and attempt to add credibility and legitimacy to it. John
The only thing I can possibly accredit to this report(if true) is there is a unified economic global slowdown to some degree, what that is ,who knows? Just saying an ounce of prevention never hurt the pocketbook.
They will talk record crops all over until they are blue in there face.
Also, you just gotta think that after the early morning flush we might be able to eek out in the green at the close today. These nos. were baked in the cake yesterday and before already.
Last edited by Tom In Ont; 12-11-2012 at 08:34 AM.
300 votes in three days is a good start. So far the conservative players are winning out. 70% beleive we won't break $10. And there a few true optimists out there with 5% at over $13. Are any of the over $13 club willing to share their reasoning for the market to get that high?
The re-action of the traders with-in the first 5 minutes of trade after the report was much much more important then the numbers them-self's.....
AW would be lucky if we ALL traded 5 contracts of corn that day !!!!!! "The trade" traded 502k not a record but very near all time front month volume. If you figured that volume as a % of OI it WAS a all time record................
the whooo hummmm days of farming are here it will take a lot to move the market one way or the other and we are coming to that point right now
this drough we are in is going to be the deal breaker we should be in ower wetspell right now here in the south only a few tenths have fallen out west not even that it will take a foot of snow to even make a inch of water not any for cast yet in the short term record tems have already bin broke for this mounth wheat has not gone dormant yet some good stands some not no sub moisture most ponds are dry and going dry some are hauling water to cattle but are fiting a loosing battle their is a lot of irrigation hhere in the south but that takes money right off the top if it doesen"t start raining soon all hel l it going to come loose 8 10 dollar corn or $8 wheat will be nothing---------------------------------dave
My question is that with the supposed reduced demand for corn,why are elevators bidding anywhere for 2 to 14 cents over the board for cash corn,even here in SW MN and NW IA where we had a good crop with corn piled on the ground ?
Big because guy have the bin doors locked tight....Does it sound like guys are selling ? curious ? ? ?
Its more then a supposed reduction,,,,,,,,,, roughly a 11% drop in E grind since July.... 4.9 bb E grind in 2011-12 minus 11% = 4.36 bb for 2012-13,thats not figuring anything for RINS or E imports.. USDA is at 4.5 bb for 12-13
I think the biggest thing going on in the grains right now is fund liquidation.they fear their tax rate is going up next year so their booking profits to pay a lower rate now vs a higher rate next year.HRW is going to be the buy of the century but it may take untill spring green up or should I say lack of green up before the market takes notice.we still have not rationed bean demand,China buys 115,000 mt today.carryouts for bot corn and beans hopelessly tight,but again it will take US being out and not being able to get beans out of SA in time before traders take notice.We grind sideways to lower untill feb-mar time frame.Traders have taken a show me attitude.