|
Ontario's middle east | It's been a long boring spring to try and get any sales off. Farmers have been pretty tight holders here and I can't blame them for locking out profitability, this early in the game. The acreage report was a much welcomed event. It sure seems like it changes the floor for corn for the time being. If weather remains supportive this week we could see funds shift to the other side of the boat dumping their shorts (no pun intended). Maybe that crowds us back towards $4 cz? IDK. What I do know IMO, is if that is to happen this week it is a huge cookie plate and we should be grasping at it with both hands, cleaning up old crop and making meaningful sales on new crop. My old friend Roy Smith says "never hold old crop corn past jul 10". Is that always right? Nope. There are of course no always or nevers in marketing. There are some things that if you adhere to them over time, they will make you money. This is one of the most reliable ones. About once in 8 years weather will mess that up and it pays to wait. Most times though we grow a crop, and Jul 10th it becomes apparent, sentiment changes, and risk premium gets extracted. Time will tell on 2020, but I would keep this chart in site and some target orders working. "Be careful out there"
 (image (full).jpg)
Attachments
----------------
 image (full).jpg (62KB - 211 downloads)
| |
|
Seasonals
