# Crop Prices Plummet



## Vol (Jul 5, 2009)

AgNews on yesterdays plummet in crop pricing due to predicted record acreage forcasts......and just happening to find 3 million undiscovered bushels of corn.....














.

Regards, Mike

http://www.agweb.com...reage_forecast/


----------



## Tim/South (Dec 12, 2011)

I had read about the discovery of 3 million bushels. How that much corn can be over looked is rather puzzling to me.
I also noticed the cattle market responded favorably to the news of more corn and better prices.


----------



## Vol (Jul 5, 2009)

Yeah, thought of you Tim when I saw Beef got some good news from the crop market.....a continued drop in corn prices sure would boost the beef outlook.

Regards, Mike


----------



## rjmoses (Apr 4, 2010)

Big price drops right before a holiday weekend are not that unusual. Friday was Good Friday and the exchanges were closed. Thursday was a shortened trading day. Many spec traders do not want to carry an open position over an extended weekend because too much "real" stuff could happen, so they get out.

As they exit, this often causes other people's stop orders to get elected. This, in turn, causes further downward pressure, causing more stops to get elected.

The market moved limit down--$.40. The CME has expanded limits to $.60 for Monday. Could be more of the same, but I guessing that there is a good chance of a partial rebound to the upside.

As far the the USDA report influencing the market, it is a human characteristic to always look for an explanation of why something happened and to connect two not-necessarily-related events. (Think of the Mayan's and human sacrifice.)

Ralph


----------



## Tim/South (Dec 12, 2011)

I read today that the corn estimate was off 400 million bushels to the plus. I hope that is true. Cattle prices have been good since the discovery.


----------



## swmnhay (Jun 13, 2008)

_I heard 300 million bu of corn FOUND in storage.







_


----------



## Tim/South (Dec 12, 2011)

swmnhay said:


> _I heard 300 million bu of corn FOUND in storage.
> 
> 
> 
> ...


I first heard 3 million, then 300 million and the last I read was 400 million.

How does that much corn get "lost"? It is not like 300 people had an extra million bu laying around.


----------



## Waterway64 (Dec 2, 2011)

Take everything with a grain of salt. Look at the big picture and long term trends. Watch what is happening around you and with contacts in other areas. Don't allow yourself to be lead by one day hype or even one week trends without solid reason. Be realistic and keep the faith.


----------



## Vol (Jul 5, 2009)

Yeah fellas.....the story put out to the media keeps changing....makes one wonder what the heck our government is trying to do or create.....and like Cy and Tim alluded to....there is no way on earth that 300 or 400 million bushels of corn goes "undiscovered".....this is contrived.

Regards, Mike


----------



## Tim/South (Dec 12, 2011)

There has been obvious manipulation in corn and cattle prices since late last summer.
Cattle prices were supposed to be good for those willing and able to hang on and survive.
A record number of corn acres were planted. Even with the drought the yield numbers from across various regions showed an adequate supply of corn. When the final tally was composed, we were told corn was in short supply.
Whether this was intentional or accidental the end result created havoc for many. The pork industry finally went into a free fall and is just now finding a bottom.
This is not a short one week "oops".
Look at who profited and the picture painted is not a good one for the working man. If we could follow the money, and the invisible money, the picture would be much more obvious.

With just 4 packers controlling prices paid, it does not take a valedictorian to guess who is in bed together and who they are shafting.


----------



## jdhayboy (Aug 20, 2010)

It always seems there's some big news making people go running this way or that way. Farming getting to much main stream media and wall street antics lately. Probably been this way for a long time, it's just that I'm becoming of age to actually pay attention.

Kinda gets like craigslist hay ads do to me, just can't take it no more! I'm sure a few of y'all get that. Lol


----------

