Seems it will do something drastic - but up or down? That's the question.
Sounds like a lot of grain was already sold, those of us holding some are holding pretty tight. If someone needs to buy, they need to move it up.
If the dollar remains weak, our grains look cheap to other countries so the 'high price' doesn't look very high from their side.
Two things are gonna control this grain market in the next 6 months:
Weather - here and in South America. This short term rise this week is a dry South America - they catch rain & things go down again. For the momet. But any dry spells in March/April in USA and back up she goes!
Govt - if grains spike up higher, will they fel the need to 'do something' to control food prices. Drop ethanol support, open imports to sugar, open CPR land, embargo grain sales. Any of this has long term & devistating results to USA ag.
There will likely be an early spring bidding war for grains - food wheat, corn, and soybeans will all appear a bit short at different times, and will run up the CBOT price looking for more acres of that crop of the wek.... But will we be at current or lower prices when that run-up happens?
I'm sitting here with 1/2 my corn & beans, shaking my head, why don't I sell? But them it goes up another nickel.....
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