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Red River Valley | Not to be a smart a$$ SC but "if the specs run" with the buying spree they went on in last week they bought 75,000 contracts of corn and 50.000 of beans that does not include the 60,000 corn some est. have them buying since the COT report along with another 15.000 beans.
In the time frame off all this buying they got about .20 up in corn and .40 up in beans
and we farmers got killed in basis
I learned along time ago not to listen to what the farmer was telling me but to listen to what his actions are telling me
It looks like the farmer sold this rally pretty hard
1) Good for them
2) It showes that most have pretty good faith that their crop is not going to be hurt by this "weather event"
3) In my mind it confirms that the June 1/4 stocks report "missed" a bunch of corn and some beans that have showed up in the farmers bins
Edited by Tara Farms 7/17/2010 19:14
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Cornbelt forecasts
