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SE ND | It has been a rough ride the last few months for farmers. And really the last 5 years haven't been fun either if the swing highs weren't sold. It's hard to watch price sell off like it has recently with many having little hedged at even modestly higher prices.
Fry mentioned beans below and that he thought they bottomed. I had been expecting another push lower as that is this swings job, but the way buyers have been willing to buy it up now for 7 days running, it looks like a possible failure setting up.
Wheat looks like it may have scored a low today and MW looks to have made a minor HL also. We will need some confirmation for ZW and KC, IMHO.
Corn could have made a low today, or it's coming real soon as buyers look to have been around today. No idea what the reason is, but the charts still suggest a nice run higher is likely.
I talked to a few neighbors that are hauling in corn and said they couldn't believe that the report reaction led to this big sell off and they said how hard it is to sell down here, but they need the money. I get it, I'm a farmer myself and a sell off like this can lead to some emotional reactions. Been there many times myself. But as JP and others have said, it's all about the context. And price hasn't deviated at all from it.
There's hope even down here. Just take advantage of what this swing gives you, IMHO.
Hope this helps.
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This isn't the time to give up hope.
