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PNW Soybean No bid.. collusion?
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farmer4321
Posted 9/14/2018 05:55 (#6987188 - in reply to #6987097)
Subject: RE: This is bigger than collusion.....ADM


This is bigger than collusion. If you read the articles about "no bid" below it mentions that Dakota elevators are simply trying to make storage for previously purchased beans that would normally be simply loaded on rail cars & shipped. Now, there may be a few speculators buying bargain beans to gamble on an early end to the tariff but everybody else is just trying to honor their contracts and salvage a bad situation.
But the report about ADM is more troubling. I've been wondering (and half waiting) for the ethanol situation to reveal itself and now it has. When ADM starts dumping ethanol into somebody else's ethanol market that suggests than lower ethanol grind is just around the corner, if it isn't already here. As long as the ethanol producers could get rid of the ethanol they didn't mind even at these low ethanol prices. But when they can't move it on, then the system simply clogs up, grind declines and the lower demand for corn is manifest as weaker prices. This, on top of the big harvest news, isn't good.
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