I'm in Pa and if anything I see less corn being grown.
The only thing I have seen is sweet corn being grown for local sale and not that much of it.
Corn
July 25, 2011 - 7:34am
#122
where do these figures come from
July 25, 2011 - 7:54am
#123
rain figures?
bloomberg
July 25, 2011 - 11:46am
#124
Yet another dip to the 670
Yet another dip to the 670 zone on the DEC.
July 25, 2011 - 2:00pm
#125
Another Dip
Crop condition reports out this afternoon, ratings expected to drop 2-3%. I think this may already be in the market. I am waiting for a dip to the 6.55-6.50 area, expecting users to step in at that level.
July 25, 2011 - 6:28pm
#126
Purdue Report
Nice article on both the causes and outlook for commodity prices:
http://www.thepigsite.com/processing/news/14781/purdue-report-causes-of-high-commodity-prices
July 26, 2011 - 9:31am
#127
Bloomberg Hay Report
The following article reinforces my thinking on corn acres. Hay prices are sky-rocketing due to drought and less acres available due to conversion to corn production:
July 26, 2011 - 12:26pm
#128
DE
Check your cotton out today, we may be getting a reversal in momentum today.
July 26, 2011 - 1:41pm
#129
DE and SilverWealth
Looking good Billy Ray! Cotton limit up 4c. Market waking up to fact that Texas is a desert. Thanks guys for the heads up on this trade.
August 2, 2011 - 1:43pm
#130
One NW Iowa Corn Report
I did some scouting in our cornfields, yesterday. Yields are going down from last year when our fields were around 200 BU/Acre. My best guess is around 150 BU/Acre and think we are better than most areas in Iowa.
Despite the fact that our soil is heavy and well drained, and we survived the deluge of moisture earlier in the season, we have experienced pollination problems and are experiencing fill problems due to the extreme heat. Bottomline: Small kernels on small ears.
This year is backwards for corn. Heat early on and moisture late is what creates an excellent corn crop. We havehad the opposite thru the corn belt. I sincerely doubt the latest and greatest USDA crop report that maintains good or excellent corn ratings for 62% of the corn.
Some late rains could still help.
IO
August 2, 2011 - 10:38pm
#131
The hot nights are another
The hot nights are another killer. The plants are using up sugars that would normally go into the grain. In addition to some of the pollination issues, I am sure test weights will be down, which brings down yields in a stealthy way.
Add the debt hike, certain QE3++, fiat paper evaporating, etc. etc., it's going to continue to be a wild ride of historic proportions.
August 3, 2011 - 5:58am
#132
hope
you get some late rain. limit up on the day. corn is going to get expensive quick!
August 3, 2011 - 9:55am
#133
Dec Corn
Crop deterioration driving the gains in corn, with private forecasters dropping corn yields.
Dec corn looks to be headed to test contract highs of 7.23, and like Turd said, "there be dragons above 7.23". Probably trades to 7.40-7.50 area with $8 possible.
That said, I'm nervous about buying $7 corn in front of the harvest.
August 3, 2011 - 11:39am
#134
I took a lot of profit off
I took a lot of profit off the table yesterday. Still hold a little with stops as upside still big.
August 3, 2011 - 11:51am
#135
I took a lot of profit off
Tally,
I agree topside could be big.
August 16, 2011 - 12:14pm
#136
MODERATOR
Hey, Art!
Are you buying the breakout in the Dec?
I want to but I can't get myself to do it.
August 16, 2011 - 2:42pm
#137
New High Dec Corn
I am bullish corn, target $8.00, and it looks like it wants to go to 7.40 or 7.50 right away.
But I can't bring myself to buy $7 corn right in front of harvest. I may miss the move, but I want to be a buyer 6.95 or so.
(lot of chatter in the ag community about yields being off, crop looks good from the road but kernel counts and ear fill not good) Market trading a 153 bpa crop, some forecasters have it under 150.
August 17, 2011 - 12:03am
#138
Art, what do you think about beans?
I was just out running the dogs today, along the edge of a big soybean field. Granted it's a microscopically small sample size, but I thought those beans looked really good. Really really good. Southern Wisconsin.
August 18, 2011 - 12:29am
#139
Art, what do you think about beans?
@Eric,
Beans have been in a trading range all year from $13 to $14. Tried to break out of its range today, looks like its headed back up to $14.00-$14.05 area again. Would have to be a seller there, unless some new bullish news develops. Several reasons to be friendly this market though - possible acre reductions on future USDA reports, heat hurting bean yields like corn, high corn prices will encourage more corn acres in South America this fall and US next spring, and ever increasing Chinese demand.
August 18, 2011 - 12:24pm
#140
MODERATOR
Liking this dip
Art: I sure like this dip. I'm going to finally pull the trigger if I can get $7 in the Dec. I'll keep you posted.
August 18, 2011 - 5:38pm
#141
upper midwest corn belt
cool and wet spring then much improvement for the upper midwest most counties corn planted acres will produce higher yields than years past, this due in large part to the weather rebounding into a nearly perfect growing season. ears standing are fully developed and large.
If you got planted late with beans you are golden...
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