Summer Crash?

[burnt]

Daily corn charts shows a triple bottom in the $5 -$5.08 range? Volume down on each low - usually considered supportive.

The weekly and monthly counter-indicate the daily with a lot of downside.

Errol, your thoughts?

I find this view of the Brazilian fields quite interesting.

https://twitter.com/siqueiradaniele

Smallest corn crop in 10 years with very high import numbers. No increase in planting intentions either.

Should all be supportive for feed grains.

Haven't forward contracted any new crop corn, much to my chagrin. I don't like to go direct to the elevator with crop when I have my own drying and handling facilities.

But this year we already watched $30/Ton new crop vanish into thin air, far more than what my handle will return if the market levels out.

[errolanderson]

Daily corn charts shows a triple bottom in the $5 -$5.08 range? Volume down on each low - usually considered supportive.

The weekly and monthly counter-indicate the daily with a lot of downside.

Errol, your thoughts?

I find this view of the Brazilian fields quite interesting.

https://twitter.com/siqueiradaniele

Smallest corn crop in 10 years with very high import numbers. No increase in planting intentions either.

Should all be supportive for feed grains.

Haven't forward contracted any new crop corn, much to my chagrin. I don't like to go direct to the elevator with crop when I have my own drying and handling facilities.

But this year we already watched $30/Ton new crop vanish into thin air, far more than what my handle will return if the market levels out.

Burnt, key support for Dec corn is a hair above $5/bu. Friday’s USDA report may dictate whether key support of $5 will break or not. It’s about yield and export projections. Private analyst corn yields appear well above USDA’s latest cut to 174 bu/acre. They are heard as much as 8 bu higher than USDA. USDA has to cut their corn export number, simply too high (IMO). Corn needs bullish data NOW to reverse this downtrend. Should Dec break $5, there is a nasty little chart gap around $4.80/bu.

Friday, USDA will tell us all . . . .

[burnt]

Rather supports what I am sensing in the market.

Likely a good time to have some locked in.

Thank you.

[shtferbrains]

$4B of paper gold dumped on the market in a fraction of second late Sunday evening. Sound like a reasonable way to offload a position to you Errol?

So are you saying the Chicoms CAN manipulate the market?

[shtferbrains]

With reference to inflation in the meat counter was at Costco yesterday.
A 2 rib roast $80.

Was 4 of them sitting there so less than 1/2 of one side. $320

26 ribs X $40 each $1040

Not hard to see why packers are buying all the calves.

[shtferbrains]

Here is an interesting article on the Chicoms manipulating the commodity markets with the products they have been stockpiling.

https://www.aljazeera.com/economy/2021/9/9/china-sells-oil-reserves-to-lower-prices-in-unprecedented-move

Oil is the feature of this article but it mentions most commodities that they are major buyers of.

In a late statement on Thursday, the National Food and Strategic Reserves Administration said the country had tapped its giant oil reserves to “to ease the pressure of rising raw material prices.”

Also;

China has been selling other commodities from its strategic reserves, including copper, aluminum and grains. In the past, Beijing rarely confirmed the releases, which have tended to filter into the market via trader talk. The public release is being seen by many as an attempt to maximize the impact of the move.

Of coarse they can't influence world prices!*

[Ache4Acres]

Biden taper talk is hilarious considering he has plans to punch the go button on 4Trillion more stimulus ASAP.

That sounds more like the plan. Tell everyone we are tapering and then print money as fast as possible to keep the show going.

Zero chance of raising rates. As I have said for years this is going toward more negative rates and more money printing...just as planned. Worldwide race to the bottom
And when every single person is heavily drunk on cheap money with massive debt. Whammo. Welcome to the great reset. Will be worldwide collapse like never seen before. Might be next week, next month or 10 years but it’s coming.

plan for the worst and hope for the best.

[burnt]

Biden taper talk is hilarious considering he has plans to punch the go button on 4Trillion more stimulus ASAP.

That sounds more like the plan. Tell everyone we are tapering and then print money as fast as possible to keep the show going.

Zero chance of raising rates. As I have said for years this is going toward more negative rates and more money printing...just as planned. Worldwide race to the bottom
And when every single person is heavily drunk on cheap money with massive debt. Whammo. Welcome to the great reset. Will be worldwide collapse like never seen before. Might be next week, next month or 10 years but it’s coming.

plan for the worst and hope for the best.

Could anyone set up a better, more certain scheme to make private property ownership unaffordabe?

Ultimate goal outlined in Habitat 1, being rolled put into motion.

Only the super-wealthy will have private possessions.

[Sodbuster]

I’m not sure why some of Agriville posters can believe in this conspiracy theory where the government and super wealthy will be the only ones left that can afford to own property. I personally believe it’s a pile of BS along with the vaccine conspiracy, we’re not China or some other communist country and will never be. Not sure what some of our posters will do when there is no Covid as it seems to more posts about Covid instead of farming and marketing.

[GDR]

I’m not sure why some of Agriville posters can believe in this conspiracy theory where the government and super wealthy will be the only ones left that can afford to own property. I personally believe it’s a pile of BS along with the vaccine conspiracy, we’re not China or some other communist country and will never be. Not sure what some of our posters will do when there is no Covid as it seems to more posts about Covid instead of farming and marketing.

In all seriousness those that constantly push conspiracy theories and distrust are not mentally healthy. Maybe from past trauma or something I dont know but just not right. Perfectly fine to ask questions and have concerns but boy some people are over the edge. The world is not out to get you, it's what you want to get from the world.

[may-be]

The real conspiracy theorists believe that the government cares about them, The media would never mislead or lie to them and the pharmaceutical industry that makes billions off sickness wants to cure them.

[burnt]

Some displays of serendipity makes you question the adage, "ignorance is bliss".