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| Clay SEIA - 9/23/2014 20:10 The very first marketing year following the 2012 drought saw corn usage rise to 13.6 BB, a new RECORD by half a BILLION bushels. And you think there was no pent-up demand created? How about the fact that corn usage during 2012 with $7-8 corn was still higher than ANY marketing year prior to 2006?
It's not that hard to find the actual numbers, they are available to anyone for free...
I just was over reading the "other" site. Mike always has quotes from traders that seem a little outlandish. Just thought it would be worth sharing here.
Jack Scoville, PRICE Futures Group vice-president, says that it’s been kind of a quiet and choppy grain trading day, so far.
“No one is doing much, either way. Prices have tried to rally, but really there is no one too interested in buying anything for a long term position. So, the market has not been able to hold higher prices for more than a few minutes. Yield reports are still real high and that is keeping the tone bearish here,” Scoville says.
There is no real demand news, either, he says.
“We might be on the last leg down in corn and wheat, but I tend to think beans still got a ways to go and I am telling producers to go ahead and price beans if they need to sell something,” he says.
Meanwhile, there is some $8.00 bean talk, around, he says. “And this talk will probably grow louder as long as the yields come in super big. But overall not much phone action for me today!" | |
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Most really beleive?
