Posted 5/14/2019 13:14 (#7496999) Subject: Is it different this time?
I have always heard and have always repeated that planting delay rallies are to be sold. In the past, at some point in time, the corn always gets planted, at least some of it comes up, and by the fourth of July, if you drive by it looks like a corn field. The USDA can't tell the difference between 100 bu corn and 200 bu at least until late August or September when the ears are made and can be weighed or measured.
Is it different this time. Two things that might make it so are the much talked about PP and the low prospects for profit at todays prices(I guess you could also throw in the record fund short position as well). I am in Illinois and we are for sure behind but I think we have time to get a lot of corn planted between now and June 5 or more realistically June 10 or so when the PP option starts to look like the better deal. As far as price/profit potential for planting corn it's anybody's guess.
So sell a rally here and try to buy it back when the planters roll or no. I will probably sell some but have not yet.