Posted 6/30/2010 16:40 (#1255945 - in reply to #1255901) Subject: RE:Trends are trends, even
New Mexico
re govt reporting trends.
It's quite possible with today's action with corn as the visible leader that grains are now more of a Stand Alone product, thus decoupled from previous other supposed coupling relationships / indicators.
Look for further acreage reductions, and Moreso now a continuing crop rating reductions trend for the rest of the summer.
Govt final acres to harvest posted today at 81.4 million acres ( corn ) is likely Not far off the mark.
The projected 162 + yield though is a rather kapaxian shot so to speak for a total crop that has been "dinged" by weather.
Reality on final yield? Perhaps in the 147 to 154 range.
Small crops tend to keep shrinking. That simple.
Appears that agri may now truely defy the recession that plagues everything else.
Keep in mind agri exports from the usa are running at records for many of the commodity sectors.
That means the folks buying from here perhaps feel that usa is a rather CHEAP place to shop.
SO be it.
Folks globally are going to eat. That simple.
Looking for some opinions, please share.
