Huge because this is everybody's looking at this as being confirmation to Pro Farmer.
You know, this will be USDs first infield surveys uh, of the crops.
They're gonna ba- go out and they're going to do ear counts, and they're actually gonna walk fields.
So everybody's hoping or expecting that it will either confirm or deny what Pro Farmer found in their tour.
And if we...
I wouldn't expect that USA is gonna go as far as the seven and a half bushel cut that we saw from Pro Farmer from the estimates, but I would expect that USDA should come in and be more conservative and show a lower yield re- um, estimate.
And if they do, that's gonna kinda confirm that we are looking at further cuts going forward
Uh, This one has grabbed on and held on pretty tight, and it's made everybody a little bit nervous.
You know, when you look at the ending stocks estimate for corn even without this, it put us at about a what? A one point six so if they come into play then I mean takes us down to about a billion bushels cl-- one point two in that area If their yield estimates come true.
So that's really why the funds continue to extend their long positions and why this market has held on
Talk of uh peace talks between Russia and Ukraine puts some pressure into the wheat market late week Russian President Vladimir Putin said there is a chance for a peace deal with Ukraine Putins comments took some of the war premium out of the wheat market But those export problems have not gone away Tighter supplies and strong demand have seen some support for the corn market Global Commodity Analytics founder Mike Zuzolo says global cash supplies could be especially tight
My mindset is, is that we're gonna have a much tighter cash supply globally In corn especially, and you might wanna look at more paper positions to cover yourself Especially for what you can store past the harvest time period Especially if we get March or July twenty twenty-seven corn futures To that five fifty/five seventy-five level Store it Protect the future side of the equation And expect maybe the funds to do most of the selling Whereas the cash market stays pretty strong
Global headlines and uncertain crop conditions brought fund traders to the ag commodities at midweek
With that We're at a very Very dangerous place where Uh The funds are approaching record long in many commodities here As we enter harvest By far One of the greatest counter seasonal rallies I've ever experienced in my career
That's Tommy Groasafi of Ag Bull Trading Wild swings in the market happen When the technical side of the trade Is leaning too far one way Or another Which creates opportunity And risk There is buzz That this corn market Could be in its Six or Seven dollar range Before the end of the year
Um, I did look at the December seven dollars calls today And they are trading December six dollar calls Have ah Ah People are paying eight Nine cents To own a call At six And the seven dollar calls Are trading actively Um We've seen crazier I mean Your sitting right there Five Ten miles From the mill And you watch someone bid Twenty-five dollars For spring wheat So I guess yes Yes it is possible sir
Agriculture could be part Of a new US China Trade announcement Later in the month U S Trade rep Jamieson Greer Says an announcement On agriculture And agricultural non tariff barriers Expected when Chinese president Xi Visits Washington DC The money farm Market analyst Sam Swanson Say cattle markets Saw some buying interest return
Yeah had a great day With livestock As we finally seem to Be coming up for air here
Huge because this is everybody's looking at this as being confirmation to Pro Farmer.
You know, this will be USDs first infield surveys uh, of the crops.
They're gonna ba- go out and they're going to do ear counts, and they're actually gonna walk fields.
So everybody's hoping or expecting that it will either confirm or deny what Pro Farmer found in their tour.
And if we...
I wouldn't expect that USA is gonna go as far as the seven and a half bushel cut that we saw from Pro Farmer from the estimates, but I would expect that USDA should come in and be more conservative and show a lower yield re- um, estimate.
And if they do, that's gonna kinda confirm that we are looking at further cuts going forward
Uh, This one has grabbed on and held on pretty tight, and it's made everybody a little bit nervous.
You know, when you look at the ending stocks estimate for corn even without this, it put us at about a what? A one point six so if they come into play then I mean takes us down to about a billion bushels cl-- one point two in that area If their yield estimates come true.
So that's really why the funds continue to extend their long positions and why this market has held on
Talk of uh peace talks between Russia and Ukraine puts some pressure into the wheat market late week Russian President Vladimir Putin said there is a chance for a peace deal with Ukraine Putins comments took some of the war premium out of the wheat market But those export problems have not gone away Tighter supplies and strong demand have seen some support for the corn market Global Commodity Analytics founder Mike Zuzolo says global cash supplies could be especially tight
My mindset is, is that we're gonna have a much tighter cash supply globally In corn especially, and you might wanna look at more paper positions to cover yourself Especially for what you can store past the harvest time period Especially if we get March or July twenty twenty-seven corn futures To that five fifty/five seventy-five level Store it Protect the future side of the equation And expect maybe the funds to do most of the selling Whereas the cash market stays pretty strong
Global headlines and uncertain crop conditions brought fund traders to the ag commodities at midweek
With that We're at a very Very dangerous place where Uh The funds are approaching record long in many commodities here As we enter harvest By far One of the greatest counter seasonal rallies I've ever experienced in my career
That's Tommy Groasafi of Ag Bull Trading Wild swings in the market happen When the technical side of the trade Is leaning too far one way Or another Which creates opportunity And risk There is buzz That this corn market Could be in its Six or Seven dollar range Before the end of the year
Um, I did look at the December seven dollars calls today And they are trading December six dollar calls Have ah Ah People are paying eight Nine cents To own a call At six And the seven dollar calls Are trading actively Um We've seen crazier I mean Your sitting right there Five Ten miles From the mill And you watch someone bid Twenty-five dollars For spring wheat So I guess yes Yes it is possible sir
Agriculture could be part Of a new US China Trade announcement Later in the month U S Trade rep Jamieson Greer Says an announcement On agriculture And agricultural non tariff barriers Expected when Chinese president Xi Visits Washington DC The money farm Market analyst Sam Swanson Say cattle markets Saw some buying interest return
Yeah had a great day With livestock As we finally seem to Be coming up for air here
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