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Red River Valley | Here's my view with Corn everybody know that there is a lot of corn still in the field and that yeilds are going to be ajusted down. so now you have the farmers sitting on corn they know they need to move because of poor quality and trading funds long 200,000 contracts with Index funds loong 400,000 contracts our export market is in the tank and the feed market is on a very slippery slope. so if this is a bullish report tomorrow ( which everybody already expects it to be) who is going ot buy a higher open?? Farmer's Imho will sell it I think trading funds with were exports and feed demand is will sell it and the Index funds if they are not done with rebalancing are very close. I would need to see a very good report in order to feel comfortable about higher prices going forward. If it is a netural report I think it falls modestly if it is a negitive report katty bar da door.
If I was going to see the report I would sell the open unless it is gang buster good
That's just on guy's opinion and it is slanted by the best corn and bean crops ever on our farms so if you had a poor crop and nobody I have talked to is saying that then maybe your out look would be differant | |
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Corn price after report??
