There is nothing in the market to indicate we could have high grain prices. We have just seen a bounce from awful prices.
As usual, it is all about the reaction to the USDA reports. In this case, the market did not seem to look at the numbers the same way Monday as they did Friday.
Phones are not ringing in cash grain trading offices across the Midwest, and when farmers get together, they talk about why they did not sell $4.50 corn when they had the chance.
U.S. grain prices continue to anticipate a huge harvest by going lower. We keep hoping the bottom is in on the charts, but then we slip lower.
The grain market is just “mostly dead.” We still have the race to find out what the average crop is. If we have over-estimated the size, prices will stabilize. If the huge crop is really rolling in, the worst is still ahead of us.
For the last month traders, processors, and farmers have been frozen by our limbo market, wondering how low we can go.
For the last month traders, processors, and farmers have been frozen by our limbo market, wondering how low we can go. We have focused on the daily trading, watching prices slip lower most days, wondering when the slide would stop. Every once in a while we get a blip up that gives us hope. This […]
This has been the summer of worrying about maturing crops, of enjoying the rains that were filling the soybeans and struggling to bale hay without getting it rained on three times.
Crunch time in the grain markets: If we confirm a huge crop with early harvest, the lows are not yet in.
Grain prices have mostly continued lower the last week, although wheat shows signs of a bottom and the soybeans have had erratic trading that seems like indecision day-traders taking profits.