Posted 10/30/2020 08:34 (#8575731 - in reply to #8575522) Subject: RE: You don’t suppose
S Illinois
Two areas of concern for that line of thinking.
The market bottomed mid Aug and was in an uptrend for two months. What kind of yield data was available for that 1st month of the rally? 1/3 of the beans and less than 25% of the corn was harvested as of Oct 1st. So this means they were making bets on a couple 100k if harvested acres in TX or the Delta?
Second there seems to be an idea that this crop is really in the 160’s and mid 40’s. It’s not. So that yield data that they are gathering showing them a 175-178 yield and 51 bu bean crop was enough for them to go extremely long without any regard to demand? Or is it possible that we have had a demand driven rally?
You don’t suppose
