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Buxton ND | It would be awesome if we could just crank up the E plants,built some more plants and grind 7 bb to feed E-15 and have 7-8 dollar corn again. With the money have to fit against Ethanol,,,IMO its highly UN-likely to happen.
The best thing corn has going for it it E/RBOB spread is very wide,but even there look at the price spreads at the pumps,,,,, to IS NOT reflecting a .90ish plus spread of the futures market. If this gets under your skin as corn price has fallen,,,talk the the manager............................ E exports (if someone could post a graph on E-exports would be help full) haven't seen for awhile but they should be good with the dollar around $80.
Insiders there was a very large player in Euroland ethanol that shut the doors about a year ago. Do you know if this plant is back up and running and/or under new ownership ?
Lastly the trade volume in corn today pretty much tells us what the spec money is doing,even after a good (bullish) OR not as bearish as thought report. When the report was release we trade ZCZ @ 4.16,ended up with only a .22 which IMO was a very strong short covering rally,on ballistic volume,almost record volume given the lower OI = open interest,the remaining shorts,,,now look to be remaining short. YES this is not a popular post but this is what I my self see in corn.
I tink,"Tink" could add some comments if he may on this morning corn volumes,but really dont think the bulls wanna hear or read that either.
Only corn position/s I have on are ZCZ14 as a hedge on about 40ish%, nothing cash/bins or field.
Most will think I'm nuts for selling 2014 corn,but if one looks at volume/price/OI in ZCZ14 there was a pretty fair chunk sold prior the the report by someone......
If you really want,,,look at this same thing in ZSH14 about Augustish,and guess who WAS selling
A dip below $4, I would be tempted to re-own at least some of my 2013 corn but right now waiting til mid January the way it looks.
Trying to stay neutral to a tad bullish here but its not working too well..... | |
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Is there a date and time that EPA is to rule on mandate? nt
