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Buxton ND | Not I said the Pig.
Not I said the Cat.
Not I said the Cow.
Well if their not selling must be the Little Red SA Hen,from Tara's post below very limited sales by the US producers is what I'm picking up.
Now SA,,,been picking up for a good 5-7 days,,,not sure I would call it heavy selling,but definitely a fair chuck,,, SA IS SELLING beans,Corn not seeing too much though.
Put your self in the shoes of some of the big coastal end user out east of corn and beans with million of mouths to feed.You need X amoumt of bushel each month............Would you just sit and do nothing because farmer here do not what to sell ? Do you offer them $1 basis off the combine ? $1.50 ? What will it take to for them to buy corn beans or meal ? Will they just shut the doors like E -plants CAN ? These same questions were answered last summer when the drought hit. The more stubborn our producers hold off sales,the more we better to used to the idea of steady to rising imports into the 13-14 crop which USDA has all ready SLASHED from 12-13.
Then corn OI #'s in the last 5 days,,,,,,,,,,,OI in corn has lost 110k leaving total open contracts in all month of corn @ 1089 Most of this in normal (except for the large OI in the U contract to start with) because most want/need to get out of ZXU prior to first notice day.
So WHY are trader both longs and shorts just exiting U and not buying or selling the back months ?
Why are they NOT placing their bets in corn either long or short ?
Why has OI dropped to its lowest level in what I remember over a year ?
Been seeing this SAME THING all year as H and N went off the board..........
Are they just sick of corn and wanna play beans ?
So even with this weather money IS leaving the corn market,I'm REALLY starting to wonder why my self,,,,,do these big boy traders know something/something to come that we do not ? Then look at CRUDE'S rally on sand counties troubles,quite a rally trust me I know ! ! ! And corn cant even stay over $5,,,before we start talking 6 we need to solid/maintain a close over 5
Now I'll see if i can get someone to bite on this ! ! ! What's the one grain that's in a ROCK SOLID up trend ? ? ? "China" is the hint and its NOT beans. Nor-We-Gins tend not to like it !!! LMAO Blu would you post some charts on it this weekend please ?
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Who's Selling ?
