As mentioned on The Big Show today, here is the marketing exercise guidance offered by Brenda Kochanny from Cargill in Eddyville in order to get a better handle on merchandising grain:
"In this business we are constantly faced with “Face Reality as it is not as we wish it to be”
So I am going old school. Here is a list of points that affect this market. When things get emotional & stress is high I write down everything and then put it into my own buckets of what will make the price go up, down, what is a big swing factor or what really is a non-event. I know sounds basic. This exercise always helps when trying to decide what to do and not getting stuck.
·Large Corn Stocks numbers came out on Friday 8.6 myn
·Could be looking at 2B for 18/19 c/o potentially larger for 19/20
·Corn Acres Friday 92.8 myn acres
North Dakota reported a potential of 4 myn acres… Highest EVER
What acres will truly be lost to the flooding areas have seen?
·Planting delays and/or progress
·US/China agreement – China is coming to town and will be meeting with US starting Wednesday
·Funds
·US/Mexico border discussion – Does Trump Close it?
·Weather – Locally, Nationally & South America
Parts of Illinois received more rain than what was predicted
Locally we have anywhere from .3-1 inch in the forecast
·Ethanol production – Summer brings on higher demand
The market makes no promises. Talk with your grain marketer and discuss any of the items above and what you need to move for corn and when." You can reach Brenda by e-mail here.