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Ontario's middle east | This already played out in the south a month ago. There was warnings
Maizeing
Posted 6/27/2013 09:26 (#3177000 - in reply to #3176874)
Subject: South east bids imploding
Ontario's middle east Seeing bids to Rose Hill, NC at -19...a drop of 80 in a week. The SA corn must be starting to roll in there. With record high basis and huge inversions that leaves a lot at stake. Once the Midwest buyers are covered the record basis will likely implode just as fast there. I don't have a clue when (probably 3 weeksish), just that it will. Hey Ray J, how much extra old crop bu can you buy before you get canned??? 10?LOL! Don't be surprised that the commercials are empty, the market has been telling them to do that. Stocks will be on farm as flat pricers hold out. Don't think that holding the physical is going to support the market indefinitely, there are merchandisers out there, believe it or not, that will take up those short basis positions to the end users with no physical position. Once the end users covered he pulls the rug and the merchandisers just follow as fast as they can. | |
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Not sure why so many were shocked today
