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| Was at a meeting held by my bank last night with a panel of risk managers for ADM, analysts, etc. One panel member said it best, the worst thing that can happen would be if the USDA sticks with the June 1 date and doesnt account for everything that happened since then, which is exactly what they did.
Yes 92M was planted, im going to guess 89.5M is the top side of what corn actually made it. Between the three rivers flooding out, levee's blown, nonetheless the horrible looking fields in SO-IN/IL as well as the IN/OH Rt 24 Corridor, there are some corn acres that will do nothing but drag the Nat'l average down at a fast pace.
Im 50% sold of my ins. for corn and 15-20% for beans, i'll gladly stick there and wait it out. August report will be much improved over this "guestimate" report from a couple number crunchers in an office with no windows. Worse comes to worse and they keep the numbers for the August report, you'll see more farmers play the insurance game to makeup for the price difference.
Edited by EbertFarms 6/30/2011 12:51
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