8/13/2019


Corn down 14, beans up 10, wheat down 1

Crude Oil- 57.1 up 2.17

US Dollar- 97.83 up .01
 
DOW- 26,279 up 372
 
 
The corn market acted like it wanted to try to lift its head today but was unable and ended up closing half a penny off the low for the day. There are rumors of hotter and drier weather for a while and so there’s starting to be some concern over that.  The larger portion of the Midwest doesn’t believe the USDA numbers and frankly most producers are more than unhappy with the results, I had one producer explain to me that this type of situation is why producers refuse to participate in the USDA surveys. I had another ask “just how in the *&%@ do they come up with these numbers” to which I stated “IT’S THE GOVERNMENT, DIDN’T YOUR MAMA EVER TEACH YOU IF SOMETHING’S TOO GOOD TO BE TRUE IT PROBABLY IS” every producer you talked to before the report said it had to go up, that the crop just isn’t there and that we’re gonna see $5. Here’s the deal, I don’t agree with them either, I think there are some real problems out there, I think we will see things change once we see the crop start moving to town, but then again the government isn’t really in the practice of focusing on issues.  Anyway, IF we get back anywhere close to the levels we were pre-report you’d better be humble and sell some the second time around. I read a joke today I thought I’d share:
 
A farmer is out in the fields on his tractor doing field work, when he espies a lamp-shaped bottle between his corn rows. He stops the tractor, jumps down to the field and picks up the lamp brushing the dirt off the side of the vessel. Out of the spout comes a stream of white smoke, and a genie appears, asking him to name three wishes that will be fulfilled. The farmer looks at the genie pensively, stroking his chin, and replies: “I want $4 cash corn!” The genie says: “Done!” Then the farmer says “I want a new John Deere 7210 tractor!” The genie says “Done!” Then the farmer says: “I want $4 cash corn.” The genie replies: “But you already asked for that!” To which the farmer replies: “Yeah, but this time I’m going to sell it….”
 
 
Ali
 
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