I consider this a good selling opportunity. We got scared by the break, and regretted not selling before it.
When you live in Ashtabula County for a lifetime, you have snowstorm stories. The day I called Deerfield and said I wouldn’t be in to work because we had had three feet of snow overnight. Chardon had 54 inches. The night I abandoned my pickup in the road, two feet above the pavement on a […]
Thank the market for the bounce and get some grain sold.
The grain marketing ship is rudderless this month, as fundamental news is mostly absent and meaningless.
For some soggy Ohio farmers, the rain means no corn harvest progress may be made now until the ground freezes.
MF Global declared bankruptcy Oct. 31, curiously just after an audit that did not discover the discrepancies that existed deep in the bowels of this futures-trading and debt instrument-trading giant.
Remember when you expected to harvest up to Thanksgiving? Part of the problem with crop progress is perspective. We have gotten used to early planting, fast dry-down, and big planting and harvesting equipment.
It is no news to anyone reading this that the farmers of Ohio are fighting for their crops and their livelihoods. The hardy farmers of northeast Ohio got parts of two days this weekend to run beans on squishy ground.
December corn futures have now dropped exactly $2 from the 7.77 Aug. 30 high. The good news is that we may have finally put a bottom in.
The rain gauge told the story yesterday. I finally limped out there with my shepherd’s crook leaving holes in the ground. (That’s another story: I am getting old and brittle, and couldn’t find a cane in the house.) I knew it would be bad, since it had been more than a week, but I was […]
Channeling Little Orphan Annie and Gone With the Wind to stay positive in this grain market.
Our short supply for the old grain crop is leading into fundamental numbers that make us think the tight supply continues for the next year.
It’s a seller’s market: Don’t look back at $7 corn and $14 beans and wonder why you didn’t sell those numbers going into harvest!
USDA cut the corn and soybean crop estimates in the Aug. 11 Crop Production Report, but the market has had two minds about the numbers. Initial reaction was for higher prices, then lower prices, then higher prices. This morning, Tuesday, the mood seems negative again. USDA now puts the corn crop at 12.914 billion bushels. […]
Since the direction of the market for the remainder of the crop year depends mostly upon the size of the crops, the Aug. 11 USDA Crop Production Report is a big deal.
The casual view from the windshield is of good crops. The reality is that we are very late, however, and that exposes us to less yield and fears of maturity. A frost scare the end of September would change things a lot.
The grain market needs speculators, but they are fickle. They will set a price to take a profit and liquidate. If there are a lot of them following some trading company’s advice, the market can be adversely affected in a short time. They may even reverse positions, putting huge pressure on the market.
The trouble with fundamental news coming from the government is that the market is forced to trade them as fact. Never mind that Ohio traders do not believe the acres said to be planted in Ohio. They are right until they are proven wrong.
The ugly reality in the Buckeye State: Ohio farmers will have a small crop, but the rest of the nation will not.
The shutdown of Bionol, the ethanol plant in Clearfield, Pa., has thrown a monkey wrench into grain marketing in the East currently. A plant that uses 100,000 bushels of corn a day is certainly the 600-pound gorilla in local markets. Producers, elevators and traders are scrambling to work out the problems the shutdown creates. The […]