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WASDE.. let the short covering begin!
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JonSCKs
Posted 5/12/2023 11:19 (#10226226)
Subject: WASDE.. let the short covering begin!


So they cut wheat production.. but not enough!

67% of Pratt County Kansas is gonna get killed.  It’s cheaper to spray it with glyphosate than to harvest.. thus you can adjust it.. appraisals are coming in.. from 0.0 to like 12.. since the market price has been below the $8.79 insurance guarantee.. the better option is to kill it.. so abandonment in the state of Kansas will be historic.  If you kill it now.. then you can get the insurance check.. which is how the smart $$$ is playing it I’m told.. my agronomists has told 100% (cept irrigated and seed wheat?  Btw where’s that gonna come?) to kill every acre.. get a check before Christmas.. move on.

We planted..  8.1 million acres.. if statewide a third or more is failed.. see above.. takes the rest to 5.4 million x 20 bu = 108 million bushels or about half of last years crop.. spit balling here.. ??  East of 35 it may be closer to normal.. but the big acres are out here.. not much.. west of 281 is gonna get harvested.. other than with a sprayer.  They were running hard this week.

the funds are massively short Chicago Wheat.. they will get torched.

cheers.

https://www.usda.gov/oce/commodity/wasde/wasde0523.pdf 



Edited by JonSCKs 5/12/2023 11:24
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