There are a few confusing aspects to yesterday’s report that are worth mentioning. Corn rating improve 1% week on week but lose in IL, MO and IN. States such as NC, KY and other outlying states improved. Lets look at who produces more and tell me this makes sense. In HRW over 60% of the crops in TX and OK are rated as P/VP yet ratings are above the 5-year average. This again makes no sense to me. I simply believe the world feels this crop is in better shape than it really is. This stems from an overall bearish attitude towards pricing models that are now ahead of themselves for this time of the production cycle.

This entry was posted on Tuesday, June 23rd, 2009 at 9:29 am and is filed under Grains. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.