Imho.. the funds piled on shorts a couple of weeks ago going into the 20 byn bushel corn crop.. or whatever it got up to..?? Now we got corn coming out up north showing frost damage from a couple of weeks back.. low ground that usually leads the fields are coming up short.. the funds are short.. and we get some weather scares.. meanwhile users have come in to buy the blue light specials.. and guys are filling bins.. so CASH SALES are just barely keeping up.. Keep in mind that last week we harvested 7% of the corn crop.. we USE 2.5% per week so we only ADDED.. 4.5% to storage.. NATIONWIDE.. Mexico came in and bought.. 70 myn bushels.. or some high number... China is buying BOOKOO Sorghum.. etc.. so.. kind of like what I thunk "could" happen is that the exits are not BIG ENOUGH for the Shorts to cover.. Now as we get deeper into harvest does this change? Maybe.. or Maybe producers see the start of something and bin even more.. ?? Like Tara said.. not everyone.. cause we need to move bushels.. but if guys get tight fisted with some beanies.. before Deliveries.. someone is gonna have to cover short positions.. jmho.. "I could be wrong.." maybe it's only a 14.2 byn bushel crop afterall..?? Illinois and Eastern belt is wonderful.. (if they can get it out of the field..) but the rest of it is pretty pedestrian.. "seen better.. seen worse." |