Corn Futures

[BKR88]

I don't think there's gonna be a banner harvest this year at all. In the US at least.

Very likely to set record high yields in corn and beans this year.
Grew up on a farm and brother farms ~2,000 acres of corn/beans in NE so follow it pretty closely. BIG crop coming. Price is already reflecting that so not saying it won't go higher from here though.
Brazil adds millions of acres of corn/beans every year and will for the foreseeable future unless Lula follows through with his promise to reduce deforestation.

Karen does a good job of reporting the numbers.
https://twitter.com/kannbwx?s=21

 

[mervyn]

corns are ok but brazil makes tons and sell to china. in general i don't touch cme agrcultural and metal instruments because i don't have time to read global outputs.

 

[Tokenz]

This is the future of corn...

History always repeats itself

 

[Handle123]

Am still short, any deep pullbacks short more, looking for 3.00 to be broken.

 

[BKR88]

Am still short, any deep pullbacks short more, looking for 3.00 to be broken.

Possible but I don't think it gets that low.
I'll likely start scaling into short puts if Dec drops to ~350.
3 area has been good support since 2008.
World stocks to use hasn't changed much the past few years.

 

[BKR88]

Record corn yield was 177.3 (last year).
Current StoneX estimate is 182.9
USDA estimate is 183.1

 

[mervyn]

Record corn yield was 177.3 (last year).
Current StoneX estimate is 182.9
USDA estimate is 183.1

yes but who are the buyers?

 

[BKR88]

yes but who are the buyers?

-ethanol production (40%)
-cattle/hog/chicken production
-food production (corn meal/corn syrup/etc…)
-exports (Japan, Mexico, etc…)

 

[long]

For those of you that trade these things, I'd get long. You pro's probably follow the USDA updates, but I'll tell you what... I don't think there's gonna be a banner harvest this year at all. In the US at least.

I just pulled up a chart on Finvez to see where it's at,---> $398. Pretty close to a 52 week low.

I’m curious why you don’t think it’ll be a banner year for grain yields

 

[vanzandt]

I’m curious why you don’t think it’ll be a banner year for grain yields

I saw a lot of brown, really anemic looking corn fields on a venture to Amish country a few weeks back. Large fields. Granted, that's a small sample on my part, but it has proven right in the past.