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Heart of Ohio | Think we should try to use it all actually. Use good discernment, judgement to weed out what matters, what doesn't. HOW ?? Personally, I think charts, spreads, basis help sort it out better than "news" most days. Market is always talking to us......Just need to find the "signs" that help me hear it. I think market reaction to "news" is more telling than the news itself most days.
In regards to USDA I actually read one of the WASDA reports front to back once...... took awhile, but think everyone should do it at least once before one bashes on them. I was actually impressed with what seemed to me, an honest and reasonably solid effort to accurately assess the situation at the time. Was surprised by how candid some of the commentary was in regards to how figures were determined and even admitted at times how "questionable" it appeared. It's a job I wouldn't want to take on, think it has value and serves a purpose though.
IMHO, Bottom line, their numbers will usually be what the market as a whole will use to compare and trade on. Keep their history in mind though ..... I.e. have a tendency to over estimate US Bean carryout. | |
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Price Discovery
