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Casey Iowa | Betting on March going to 116 & then 11850.....then hopefully 12050 & then prolly back down......but that just what I’m “guessing”.
I read on skirmish between Russia & Ukraine that you pointed out......one would think that Ukraine might not be as gung-ho to plant as much corn & wheat with shipping lanes being obstructed on & off. March chart looks better than December wheat chart looked for some reason. I should prolly look at a long term weekly or monthly though to see if anything on either one of them jumps out.
Bullish corn for some reason.......lack of piles......lack of yields in SW Iowa overall. Prolly just a backyard thing. But I believe it’s a bigger. Not that the national yield is going to crash.......but what if the National Corn Yield goes down 1-2 bushel on corn and 1/2 to 1 bushel on beans......would that matter? In our local area I strongly believe the basis will have a strong positive correction, which might lead to a stronger futures. Hey Natty has got to run wild.....Oil has run wild negatively......maybe corn is about primed to run up 50+ cents. I believe it could if farmers don’t sell into it. Doors are being locked now aren’t they!! Grab your hammer everybody!!! Don’t call the local elevator, feedyard, feed mill, ethanol plant, rail shuttle loader, etc.....
Crude looks to basically have done around 50% retracement to me.....I’m thinking it’s gonna go stagnant for a little while. Will be a good time to be this next years fuel needs in Jan I’m thinking....maybe Feb like normal.
Yup short DX.....which isn’t very smart......it looks like a VERTICAL market like Natty......but hey that cooled off its highs didn’t it......who knows.....but it does look strong.
Go Piggy’s!!!! Everyone go buy your ham & bacon & loins & pork butts this week!!!
Edited by happyfarmer 11/27/2018 22:52
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Back to Marketing.. HRW Wheat is offered $6.53 at US Gulf.
