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Buxton ND | Tiger Yes there bearish enough,really on the crabby side......But what I heard yesterday from my local and my broker,no one is selling....
I thought once it broke 4.90 we would be 4.50 reallyyyyyyyyyyyyy fast, which didn't happen so that would back up the statement the farmer are not selling at else any big amount.Farmer selling no matter how you do it leads to hedge pressure.
Last nights rains,,,rains today and we're NOT .15-.20 .30 DOWN is a good sign.
OI is not making big jumps higher (some of which is LACK hedge pressure) good sign.
So far we're holding yesterday's lows.
UNKNOWN did buy 211 tmt of new corn with 8 tmt of that being OLD CROP. and 220 tmt new beans,so some of yesterday's strength IMO was commercials covering those sales,more so with the lack of hedge pressure.....
ONE THING FARMER CAN DO TO HELP this market stabilize,if you are going to make some sales here,sale in VERY SMALL LOTS to keep hedge pressure at a minimum. Remember we as farmers selling is NET NEW SELLING, this doesn't just come from the funds................... | |
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Jeremy and Sat
