Obviously the farmers must be the only ones that would profit from a market rally right now so that’s why the market doesn’t care. We could all go out and plow the crops under at this point and the traders still wouldn’t care.
Southwest Minnesota farmer here (Nobles County). Had over 13 inches of rain last week. Nearly all gravel roads were inaccessible Friday/Saturday. Likely had 20-30% of my crop under water for 24 hours.
Nw iowa is not any different. Only thing I would add was the soil profile was already full (10ish inches) before this We just had over a full profile dumped on a full profile in roughly 36 hours I saw full 80’s still flooded today. Bottom line it’s just like 93. They are going to lie and bs until the end users can’t find supply. Hoping by then the farmers have sold because they didn’t get a crop and needed the money. I contend the effects of 93 didn’t show up until mid late 94 was the same bs then rain makes grain there’s no problem here.
Drove around 200 miles threw nd and sd this last weekend. Only saw one good field of corn around Aberdeen sd. The rest of the fields are full of sloughs and very behind from all the cold and rain.
I have a question about planted acres anyway..... Government takes at least half a month to count acres so this "report" would be based on June 1 estimates. Yes estimates.🤨 Cause that's ALL IT CAN BE. Why? Because us farmers have until July 15th "certify" what we planted this year.😏
I think you can mark 10% of 30 million acres in MN, East SD, and North Iowa as a ZERO. Drove a large loop through that region late last week. Minnesota will NOT have huge yields like the last couple of years. Maybe not enough for much of a rally in this market but I had hoped for some support at the very least.
Last 2 yrs weather was off but high yields keeps arriving after every announced worry. I would say give it time prices will change by mid july. Let it flow thru its. A holiday week.
Central Ohio here, starting wheat today. Been hot and dry but now we're getting into wheat then straw here comes rain chances all week, you're welcome fellow Ohioans 😂
West under water while Eastern cooks. Remember planting intension report? And we can't find how many millions of acres? Guess what we found end of June.😮 So uncle Sam can reduce yield now. But extra acres will make up for that. We're good shape.
nw central ohio, started srw wheat on friday and saturday , we're about half done. harvest is about 30 bushels less than last year. vom is super high. not going to double crop beans, going to take the extra time to cut back fencelines and haul manure on it. then a late summer chisel plowing. to get it ready for corn in 25. ohio is in a drought, maybe close to being considered severe. the uneducated economist says lumber futures are plummeting below the cost of production and to expect mill slow downs or closures.
Looking to start SRW wheat this week - NW Ohio. Finally got some rain on Sunday morning. .3 inches. Over the last 3 weeks that’s the total we had gotten previously. Corn and soybeans look good still even after the heatwave. Very little rolling going on in corn. But our later planted corn really needed that shot of moisture to get going.
As an outsider looking in your housing market is being manipulated, unregulated immigration so more people need housing and then not keeping pace with existing housing needs. No shortage of land in the US for building homes so why is it not being done? Supply and demand is a basic, it's obvious the demand is there, so not to build enough is a deliberate decision.
You just solved in part the answer to the question of flooding and traders don't care.There are millions of acres of land that need irrigation and don't have it.Wet years produce above yields on this land.
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Good morning! What are your thoughts? Should the market have reacted to the flood situation?
I still think outside farm forces at work.
50% of the corn will not be knee high by the 4th of July. To much rain and cloudy days central mn.
Because farmers own majority of bushels yet, once traders own 70% they can double their money in a week.
No rain here in South Central pa. The threat of rain looked really promising yesterday but the rain passed to the north again
Rain makes grain theory is the strategy.
Obviously the farmers must be the only ones that would profit from a market rally right now so that’s why the market doesn’t care. We could all go out and plow the crops under at this point and the traders still wouldn’t care.
Usda manipulates markets and reports so they can continue insider trading
Dry year will scare you to death wet year will starve you to death grandpa always said it took me years to realize he was very right
Faribault county MN, i own about 100 acres of water at the moment. Anyone interested in some lake front property?
Is jet skiing allowed? Sorry for your flooding.
Market isn't reacting cause flooding didn't happen in Chicago
Southwest Minnesota farmer here (Nobles County). Had over 13 inches of rain last week. Nearly all gravel roads were inaccessible Friday/Saturday. Likely had 20-30% of my crop under water for 24 hours.
Nw iowa is not any different. Only thing I would add was the soil profile was already full (10ish inches) before this We just had over a full profile dumped on a full profile in roughly 36 hours I saw full 80’s still flooded today. Bottom line it’s just like 93. They are going to lie and bs until the end users can’t find supply. Hoping by then the farmers have sold because they didn’t get a crop and needed the money. I contend the effects of 93 didn’t show up until mid late 94 was the same bs then rain makes grain there’s no problem here.
Drove around 200 miles threw nd and sd this last weekend. Only saw one good field of corn around Aberdeen sd. The rest of the fields are full of sloughs and very behind from all the cold and rain.
Rain makes grain, your traders are like children these days.
Same agruments the trade made in 2010 corn fell just below 3. By that fall the market jumped and went from 7 to 8 by the following spring.
I must be getting old because time sure flies, lately! Seems like not too long ago, the rivers were going dry. Good show...🇺🇸 👍☕
I have a question about planted acres anyway..... Government takes at least half a month to count acres so this "report" would be based on June 1 estimates. Yes estimates.🤨 Cause that's ALL IT CAN BE. Why? Because us farmers have until July 15th "certify" what we planted this year.😏
Could the poor economic conditions in China (massive Re problem) be an influencing factor on low demand?
Yes. Huge Brazilian crop are probably the bigger issue, however.
More like 10 to 17 inches of rain
Ai running trades
Southern Minnesota has been hit over and over again. We have drown out acres.
More rain over the weekend. Hard to get 28% N on most fields. Still impossible to make dry hay. Some fields still unplanted. NE WI.
I think you can mark 10% of 30 million acres in MN, East SD, and North Iowa as a ZERO. Drove a large loop through that region late last week. Minnesota will NOT have huge yields like the last couple of years.
Maybe not enough for much of a rally in this market but I had hoped for some support at the very least.
10-day forecast for Marshall Minnesota looks cold. Highs of only 70° lows of 50
North West Ind : "opinion" Flash drought with 1980's like Temps. Soar thumbs in fields popped. Very grateful for 1.3 inches of rain and cooler temps.
Last 2 yrs weather was off but high yields keeps arriving after every announced worry. I would say give it time prices will change by mid july. Let it flow thru its. A holiday week.
Central Ohio here, starting wheat today. Been hot and dry but now we're getting into wheat then straw here comes rain chances all week, you're welcome fellow Ohioans 😂
Meanwhile USDA map showing my area of New England in drought. Nevermind our soil moisture is so high our roads are sloughing.....
West under water while Eastern cooks. Remember planting intension report? And we can't find how many millions of acres? Guess what we found end of June.😮 So uncle Sam can reduce yield now. But extra acres will make up for that. We're good shape.
Market control
1988 and 2012 heat will return . I was 21 in 88 and remembered that was the hottest of any year since.
The bushels will not be there this fall in MN
Or a large part of nw iowa
And It already was too wet well before this happened...
Think these latest big weather events are unusual ? A book published in 2023 called The Parrot and the Igloo says different.
SC WI lots of water standing in places I haven’t seen before with more coming. The faster I drive past fields the better they look.
Flooding supposed to drive the grain prices up or down
nw central ohio, started srw wheat on friday and saturday , we're about half done. harvest is about 30 bushels less than last year. vom is super high. not going to double crop beans, going to take the extra time to cut back fencelines and haul manure on it. then a late summer chisel plowing. to get it ready for corn in 25.
ohio is in a drought, maybe close to being considered severe.
the uneducated economist says lumber futures are plummeting below the cost of production and to expect mill slow downs or closures.
They will be up tomorrow! Famous last words.
Seriously. I think corn should be 4.70 now at least and soybeans 12.70.
How close to report release date will USDA include latest (weather /trade) info?
Last year's report - see page 45: downloads.usda.library.cornell.edu/usda-esmis/files/j098zb09z/hh63v8465/zg64w269x/acrg0623.pdf
Starting to see phytophthora in soybeans
India -Centre Imposes Stockholding Limit On Wheat To Check Hoarding, Ensure Price Stability
Looking to start SRW wheat this week - NW Ohio. Finally got some rain on Sunday morning. .3 inches. Over the last 3 weeks that’s the total we had gotten previously. Corn and soybeans look good still even after the heatwave. Very little rolling going on in corn. But our later planted corn really needed that shot of moisture to get going.
What are ABCD trading? Is it important what they do?
Crops look awful in southern mn its not good
As an outsider looking in your housing market is being manipulated, unregulated immigration so more people need housing and then not keeping pace with existing housing needs.
No shortage of land in the US for building homes so why is it not being done?
Supply and demand is a basic, it's obvious the demand is there, so not to build enough is a deliberate decision.
If I use the view from my yard system of national yields corn should be $3.50 and beans $9.00. Have not ran a pivot yet.
You just solved in part the answer to the question of flooding and traders don't care.There are millions of acres of land that need irrigation and don't have it.Wet years produce above yields on this land.