|
Red River Valley | quick question that I have been pondering- everybody finds the feed number in corn almost unbelivable - so let's say you are right and they take
100 -150 million off the size of this corn crop wich would reduce the dissaperance number from the first qtr. by that same amount which will be taken off the feed and Resid. number. Will they than extrapulate that out and drop feed and resid. by the same amount for every qtr. which will bring the carryout up higher even with a lower crop.
BTW the last two reports weren't Jan and June. The better statement would have been the last two reports that I (DJM) remember kick the longs in the cookies that sept. report didn't hurt the longs one bit was rather nice report for them and than go back to the March 09 report where the USDA stated that farmers were actually not going to plant 6 or 7 million acres no that report helped the longs big time. funny how we blame the usda when reports hurt us and don't remember the reports that help us.
BTW just as everybody new that the Jan. report was going to find poor yeilds and corn carryout was going to come toumbling down almost everybody you talk to now is sure the march report is going to be bullish.
Me I'm not so sure what this comming report is going to show, seasonal's are for higher prices but you had a lot of people try to front run the Index funds that never showed up to buy in March. Wonder how many of them might be looking to get out before the report now that the period to buy for the Indexers is almost over. Today's trade will tell a big story, margin calls were given to all of these front runners last night will they sell a higher market this morning or will they write a check and stick around for the report?? | |
|
Tarafarms and Thursday's market action
