In the cash market you have terminals bidding higher than millers right now.. as millers try to source as much as they can for as little as possible before we enter the big Lock up for fall harvest..
Terminal in Wichita bidding for and filling flat storage.. beau coup room left to go..
If you have storage.. you can pick up that $.47 pretty easily..
Looking like fall planted acreage will be down.. as noted the sorghum crop will not turn around.. and given the lateness in the fall crop.. gonna be tough to get that in before freeze up.. everyone remembers last fall's 70 degree to 15 degree plunge that resulted in a lot of winterkill..
HRW Wheat acreage could be down..?? a myn acres or more..??
early dryland corn yields are coming out as much as 100 bu per acre less than this time last year.. "here." It ain't a big crop everywhere...
Sorghum crop does look good..
Petroleum stocks down 5.5 myn bbls from last week.. WOW!! ( http://ir.eia.gov/wpsr/wpsrsummary.pdf )
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