I put in 750 miles in Ohio and Michigan over the weekend, and I was amazed how far behind we are in reality. Yes, the Planting Progress Report from USDA said Ohio, Indiana, and Illinois are the problem with the U.S. being so far behind, but looking at miles of northwest Ohio bare as far [...]
The planets are aligning this morning in a manner that will be easier to interpret by the end of the day. Unfortunately, I have to write this on Tuesday morning, not Tuesday evening. The planets are aligning, or even colliding, in the form of the USDA Planting Progress Report, out Monday afternoon, and the USDA [...]
Corn prices crashed on the Chicago Board of Trade the last week, even as soybeans tried to hang on to recent highs.
Grain markets have been monochromatic since the March 31 USDA Planting Intentions Report. This has been a soybean rally, primarily, and the last week in corn futures has reminded us that corn has just been along for the ride.
The USDA Prospective Plantings Report, followed by friendly export reports, have helped fuel some bullish enthusiasm for the grains.
Farmers who were waiting for the Prospective Plantings Report to help the corn pricing decision are not likely to be happy.
Andy Warhol said we would all have 15 minutes of fame. He owes me 13 and a half.
As we wait for the USDA Planting Intentions Report, which is due March 31, we are seeing bullish enthusiasm return to the markets.
The basic problem with writing a grain marketing column for (gulp) 22 years is that readers start to assume the writer knows something. The danger is actually that the writer starts to think he knows something.
We seem to be locked into trading ranges on the Chicago Board of Trade. In absence of news, the market cycles higher and lower, leaving few clues to assist our trading.