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Minnesota | I agree, great post. I personally feel the lack of selling physical from exactly what you wrote. Normally would have an additional 50-60 bu/a sold but instead chose to use puts this year. If we could catch another decent rain I'd sell another 20 or so above $5 here. My opinion for awhile now has been that we likely won't know anything printed drastic until January like last year. Depends what they decide to do in 2 weeks here, but I'm unsure of how drastic of changes they'll make. In normal USDA fashion probably not too much. Conditions are low enough, especially in certain states to justify big cuts if they so choose, but as of last week is how they'll base condition of the crop for Aug report. Long tail like 2019 crop coming to a head last year? ha, time will tell but I'd suspect if the world issues are truly what they appear to be, prices won't get too low before demand would come back. Still in a good spot for at least another 6-8 months in my opinion. | |
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Just a few thoughts and figures
