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SESD Sious Falls | Sat, who said anything about "killing the crop"? That seems as melodramatic as "peak corn", although its more apt now because the corn is turning brown from a premature death.
You follow the funds and that is good for measuring the money flows and trends and how hard it might be to turn a bear into a bull. I look at the yield potential of the national crops and that is being reduced significantly with this hot dry weather.
We had some cushion with corn that we did not have with beans, but by the time the acreage reductions are taken into account and the terrible finish we are putting on the crops, I think corn will be tighter than the market is currently projecting.
Take 2003 for instance when the funds did not have a clue on the dryness and aphids hurting the beans until combines were rolling all over the country. Farmers knew weeks before the market recognized it.
I think the funds don't have a clue as to what this weather has done to the crops.
PS. It may be the end of August on the calendar, but it was a lot closer to the beginning of August in terms of crop maturity before this heat set upon us. We can do a lot of damage to an immature corn crop in August and we have done so along with an impending disaster in the beans since the rains have not come to save the bean crop.
Edited by DW11 8/28/2013 14:50
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Same question, two days later. Does this rally have enough ....
