In 1990 the total United States population was 246,081,000 Farm population was 4,591,000 Farmers made up 2.6% of the labor force Number of farms: 2,143,150 Average farm size (acres): 461
We are currently buying corn for August and September.
Last week the funds covered their short position and the market rallied about 15 cents. As weather forecasts got cooler and wetter we dropped back into our old trading ranges. From here on out it will probably take a dip in the weekly crop ratings to get any rally if any going. With the large carryout and the record South American crop it looks like we will see a large amount of selling on those types of rallies keeping us from going wild. June 30th is the big report and I would expect our only chance of higher markets will all be weather driven as usual.
Minneapolis wheat has been the leader in the market dragging corn and beans into the upper end of their range even though it is too early to lose a crop. But soon the wheat market will be old news and we will have to play the market on weekly crop conditions. As always it will be a volatile summer just don't hope for big rallies without big disasters.
Stay Tuned.
Click on the "Cash Bids" link below to see our current cash prices.
Areas of the Southeast, Delta, Texas, New Mexico and Colorado will see showers Saturday. The northern Midwest may see some light rain. Dry elsewhere. » More DTN Weather Commentary
