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| The market has the ability to influence the Preventive plant number and it will decide how much it needs to influence it soon. There will be some preventive plant my guess at this point is it will be 4 MA (some ground will not be planted no matter what price CBOT pushes to. this number could rise to 7 or 8 million without price rallying into the $4.35 ish area but yield is another problem altogether other than getting people to post plant put on Nitrogen there is not much the market can do about how this crop will yield and at this point hitting 170 will take a complete reversal of weather patterns.
take 4 million of harvest acres and drop Nat yield to 170 and look and see where we will be MY target is $4.48 Dec.
we will have to see if the market is willing to buy down PP acres they will need to do it in the next 10 trading days or they can more than likely forget it | |
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Preventive plant a moving number
