Six weeks ago, and a little more, we finally made the big highs in corn and soybeans. I had been impatient, had predicted highs several times, and was finally right. As prices broke there were, as usual, technicians who said there was still room on the chart for one more leg up. Leg up Then […]
Grain markets have stabilized on the Chicago Board of Trade in recent days. That is a nice way of saying that we have seen small gains after large losses, without a real sense of direction being established. Market moves December corn futures have retraced nearly a third of the large loss. We fell from the […]
We in the grain business are hanging on with both hands to the mechanical bull market. It goes up, it goes down, and it eventually throws you off on your face.
Grain markets continue to confound observers, as new highs keep flowing as combines keep rolling. Corn, soybeans and wheat have all made new highs or returned to the high in the case of wheat. This is happening even as we are finishing harvest, a time normally of declining prices. Take your pick of the reason. […]
Is grain market on a report-induced, blow-off high, or has the report just set off another leg of the rally?
The old gray mare, she ain’t what she used to be. You know the one — she galloped in and got you all excited about how fast she was, then ran out of steam. No, she looks like a nag you were a fool to bet the farm on. She looked like Secretariat’s great-granddaughter, but […]
One of our family stories involves number one son in a restaurant tasting his soup. The attractive girl going by our table was surprised to hear a 12-year old blurt out, “Whoa, Baby, Hot! Hot!” I thought of that yesterday as I watched the attractive corn prices go by my screen. I have to admit […]
The U.S. grain market is still uneasy about the crop size, and we’re positioning ourselves for a Pamela Anderson bust in prices.
Prices on the Chicago Board of Trade have broken sharply on the overnight trading going into Tuesday morning (Aug. 24), as this is written. Corn, soybeans, and wheat have all traded dramatically lower, leaving the highs of the last few days behind. I had to do some quick mental calculations when K-2 called from the […]
Market commentary: Big gains on the grain market during the day Monday that capped off a few days of frantic trading did not hold; the weakness overnight is accelerating.
I am thinking this morning that the grain market is like a sixth grade boy this morning — obstinate and opposite. Whatever you suggest, he wants to do the other thing. The more you push, the more he pushes back. Too old to spank Think about it — we came out of reports that said […]
Corn prices have plunged to new lows as uncertainty about the crop size has created volatility in the markets.
I was reminded this morning that when it comes to really knowing what is going on in the grain markets, I am as useless as certain vestigial mammary organs on a male swine. Maybe you have to think about that for a moment. I cleaned it up a little for the “General” audience. In fact, […]
Last week I mentioned the old saw about the dead cat — that even a dead cat can bounce a little. That was in response to the idea that the market had gone so low, a little bounce did not mean anything. The bounce has now lasted for a week, and I am forced to […]
I laid awake for a long time in the middle of the night, listening to the rain. I am not sure why I do that. It should be a soothing sound to put me to sleep. Memories Maybe I am listening for wind, with a vestigial memory of the night the elevator blew off the […]
In the early 1970s, I finished spraying a field, and parked the tractor at the driveway with the booms still out. Then, I forgot about it.
When USDA released their monthly Crop Production and Supply and Demand Reports May 11, the market saw glimmers of hope amongst the nuggets of news. The shiny spots now appear to be fools gold. Reality sets in Markets spurted higher coming out of reports May 11, but reality struck later in the week and we […]
A month ago, the market was talking about wet weather that would potentially slow the start of planting. Traders built a little delayed-planting premium into prices. Then, the weather changed dramatically, and so did the markets.
Grain prices have broken sharply lower the last few days, and the reason given is the effect of the Goldman Sachs fraud charges on the market.
In the nearly two weeks since the USDA’s Planting Intentions Report release, we have seen corn prices decline and soybean prices make small gains. Part of the confusion in the corn is that there was no surprise.