When grain markets don’t seem to matter: At the heart of it, we remain under attack because we are Americans.
Corn has rallied on the idea that the corn acres will decrease and the beans will increase, in Thursday’s USDA Planting Intentions Report.
The middle of March is a hard time to plan grain marketing. We are in the dark about actual planting plans, spring weather, and the results of the winter weather we are now experiencing.
The traveling experts are worried that we are going to raise a big crop and have $4.50 corn. The farmers don’t believe it.
USDA says we may plant 96 million acres of corn. They look for 76 million acres of soybeans, although there is some thinking that we could see as much as 79.75 million acres. Last year we planted 77.198 million.
Current U.S. grain market movement is in a trading range, and no progress is being made.
Regardless of USDA reports last Friday, we are trading this grain market as a short-crop year.
Grain prices are at or near lows on all three major commodities on the Chicago Board of Trade.
There are a lot of reasons grain markets have traded lower. Some are valid, some are the kind of reasons analysts give when they have to give reasons, says grain trader Marlin Clark.
The last line of that Zombies song from the dark ages of the ’60s is, “It’s the time of the season for loving.” That’s a good Christmas thought, and better than the one I had this morning, looking at prices. This morning it seems like it is the time of the season for losing money […]