Corn Imports into the US

[TOM4CWB]

Dear Charlie;

I see corn is starting to go to the US:

"Corn - Closing Report

Alan Brugler - BRUG - Fri Jul 20, 4:27PM CDT


Corn futures finished the session higher and were up 84 cents for the week. The old crop – new crop spread finished at about the same level as yesterday. The weekly CFTC report showed Managed Money had increased their net corn long by 33,641 contracts from the previous week with Index Funds decreasing their net long by 6,412 contracts. Forecasts for above normal temps and below normal rainfall for much of the growing area have not changed. The Commodity Weather Group estimates corn yields will average 136.2 BPA this year, a near 30 BPA reduction from the initial USDA yield estimate. Corn basis levels were weak at elevators and processing plants today with farmer selling into yesterdays rally. There are estimates that the U.S. has purchased 80 to 100 million bushels of corn from South America that will most likely be destined for the south - southeast.

Sep 12 Corn closed at $8.24 1/2, up 16 3/4 cents,
Dec 12 Corn closed at $7.95 3/4, up 17 1/4 cents,
Mar 13 Corn closed at $7.81 1/4, up 10 3/4 cents
Jul 13 Corn closed at $7.77, up 17 1/4 cents


Provided by Brugler Marketing & Management"

http://www.farmmarketer.com/home/commodities/

[charliep]

I would be watching Canadian feed barley
and wheat exports. Things will come
together very quickly in the new world.
Feed business will be very easy to put
together and logistically simple (load
unit train, send to the customer, load
another unit train, etc.).

[BTO_farmall]

TOM, At times its Cheaper to Bring in Corn from Sout Amerika by Tug Boat than it is to Rail it in from The MidWest. Gotta keep all The Chicks Cheapin down in The Sout/Sout Eat..........

[rockpile]

Interesting - "the US purchased 80 to 100 mil bus
of corn from South America". I would be interested
to know which Grain Companies or traders
purchased 80 to 100 mil bus of corn from SA.
Reminds me of about 92 or 93 when the issue was
excessive moisture along the Mississippi Valley and
threatened the soybean crop. Futures went through
the roof until Cargill imported a boat load of beans
from SA and delivered it in the Great Lakes. The day
after the news release, futures cratered and never
recovered. I can tell you right now that if barley is
sitting at $6 or more, there will be a lot of empty
feedlots sitting around this fall. And it takes a long
time to refill them. Like the old adage goes - "Be
careful what you wish for, it may come true".

[oneoff]

Everyone except farmers are wishing for $4.00 corn?

Others are looking after their business sector; as well as talking down prices and making farmers "be careful what they wish for".
As if farmers are able to control anything. I say take any nickel that is available and examine what drives the free advice from those with contrary interests.