[Listen] Gordy Recap Huge Grain Sales to China It’s Not Enough
It was another frustrating week for corn and soybean producers. We finally had huge buying of corn and soybeans by China and the markets did not pay any attention. In traders minds the crop growing in the field is getting bigger by the minute and no amount of China buying will make a difference. In addition traders are already talking about the huge corn and bean crop next year that will be produced in South America.
The South American crop will not be planted for a few months yet and already it is a record by a lot! It sure seems like all the news is twisted and spun to make it sound bearish. Even bullish news has a but in the story to make is sound bearish. This is the time of the year when traders seem to be in a race to project the biggest corn and bean crop in the United States.
I have seen this for a number of years where we put in the harvest low a month or two before harvest. When we get into harvest we find maybe we have a good crop but it does not measure up to the lofty expectations. Maybe that will be true this year too? Click on the link above and listed to the Weekly Ag Market Recap with Gordy.