Posted 6/12/2019 05:16 (#7554414 - in reply to #7554367) Subject: RE: Wow the bull rocket
Let us NOT forget to be looking at 2020 corn AND 2020 Nov bean futures so we have a future farming!! This move is great for us farmers but it will not last, never does. The world has too many acres, its cheaper to produce elsewhere and we need to be selling next years corn on the board at $4.25 and up, scale up!! And...guys, don't forget to sell this crop too. Scale up sell, if the market wants it, give it to it! So many guys on the verge of having to stop farming, do not let these opportunities pass you by. Especially look at 2020 beans...those pigs have a date with disaster.
Yesterday WASDE told us down 3.0 mln acres and down 10 bpa on the yield. We know acres are down more than that, probably 6-8 million so we have more bad news to come. This 166 yield on down 8 mln corn acres is going to send shock waves through the trade. Corn should trade up to $475 at least! Then there is beans. What a horrific pig that market is and will remain to be. Over a billion bushel carryover, and the worlds largest consumer (CHINA) demand is slowing and they are not going to buy US beans! Price still adds bean acres globally!! The total acreage package in the March intentions was too small guys, the missing acres were more than likely beans. Think 86 mln bean acres! Better not forget to sell some SX2020 beans too, because when this corn move is over, and it will be over, this bean market has a date with $7.00 on the board. Job of the bean mkt = to cut acres globally! Current prices not doing that job.