Have seen some analyze / projecting 320-310 Dec. corn.
Most must be grain buyers and THEY are always bearish. Remember Jim's
post from past yrs. He was employed by Anderson's until he retired to FL.
IMHO just can't see it. DEMAND has been terrific.
My Feb. projection for CZ lows 362-354 and 344.
Rule when carryout comes down......bull story.
Looks like were in a range of 355-375
this big bean crop going to be put under roof, which means lots of corn going to be stored outside......now, maybe the wet conditions elongate the corn harvest and we don't force as much corn to ground.....we'll see what midwest harvest conditions look like after the east coast storms pass...
net/net: tough to see how we avoid some pressure on corn
(and I am longer term bullish looking for a spot!)
Ray J
Positives.
I had a call from a major grain buyer yesterday...they needin' corn to finish filling trains now.
A lotta new tin and flat storage has been added over the Summer.
Negatives.
Trump sent the markets on a downward spiral due to his tariff talk. Very detrimental and unforgiveable.
Big Oil has Trump and the EPA in their back pocket which doesn't bode well for ethanol and soydiesel.
For weather effecting crops, go here:
Was thinking the lows are in for corn before the USDA report earlier this month +favorable weather for filling in August but am not sure.
Too much rain helped the corn to bounce recently.
CZ around 36.......16c off the lows right now and 62c off the late May highs. Charts below are for the front month Sept.
Corn historical perspective:
Who remembers $8 corn not so long(5 years) ago
3 month below September(front month)
1 year below
5 year below
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Cliff........a lot of grain businesses have already decided how much corn to carry over and may have moved that inventory into flat storage or covered bunkers which make it hard to retrieve quickly.
Thus, when harvest does not get started as expected, it creates those "moment in time, quick ship opportunities"
we knew which of our corn suppliers fell into the "under promise and over deliver" category, and that is why they were the ones who got "the call" for those quick ship bids
better to have 10 guys bringing 25 loads apiece instead of one trying to bring all 250
admit it Ray. you really miss it. Fall is here. The smell of new corn in the air. The smell of nat. gas feeding those dryers. The long line of trucks out front. You miss it bad. Just to keep you from doing something foolish like going back to the mill I will hold a place here and you can come drive one of combines or grain carts this fall.
I do get an occasional twitch at this time of year!!
still getting healed up from knee surgery a month ago, so won't be climbing any machinery for awhile