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New Mexico | same till Oct 5th ( then to neutral or possibly Reverse on some things )
Keep in mind we now HAVE the 30% UP on many products talked about say 90 days ago.
There's a beginning, a Middle and generally an end to market spans.
Sooo perhaps best that your version of "today" is not mixed up with say a day which was 90 days ago.
Couple things happen in Oct.
usa comes up with yet another crop report say bout the 10th.
The Oct reports ( private and govt both ) will reflect some BIG corn yields in 4 States of the N cornbelt.
Keep in mind the Sept reports currently reflect the smaller yields in the S, SE, and E thus are swaying things up.
In general, I feel Oct reports will tend to take away Some of what the Sept reports are adding to grain.
SOOO we have a 30 to 45 day market window in front of us of more UP ( realistically say another 20 to 43 cents on Net cash corn for instance ).
On wheat, the au harvest rolls in Oct....they'll sell it.
Location is an advantage to the buyer and seller in that equation.
Granted usa still moves alot of wheat in Sept...by middle of Oct though, perhaps not much to none moved.
Where the afore puts the paper market? Don't know, don't care.
EVERY move in grain the next 40 days may very easily be basis adjustments which add to Net Cash grain prices for the producers.
Narrow basis on grain simply means demand finally got REAL.
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Corn- highest price yet for 2010 crop "here"
