Skip to comments.Corn: New All-Time Highs
Posted on 07/31/2012 12:01:39 PM PDT by American in Israel
Corn is now trading at new forever-and-ever all-time highs. This is significant. There is a massive seasonal pressure in the corn market that exerts itself at the Fourth of July when the trade feels that any adverse weather is already priced in to the market. We're almost a month past that psychological "seasonal top" and have just broken out to new all-time highs - surpassing 2008. That means that the crop is even worse than the gloomiest-and-doomiest estimates from the first week of July supposed, and that we're not "priced in". GULP.
Corn could go parabolic, much like the wheat market of 2008 (Minneapolis Wheat penetrated $20.00 per bushel), and if corn goes, beans will go ape.
And this, ladies and gentlemen, is the reason why people like Corzine, Abelow, Duffy, Gensler, Wasendorf, Lauren Brinati, the entire staff of the NFA and so many more are TRAITORS to their nation, and should be tried and have justice done upon them as such. Farmers, grain elevators, ranchers and meat animal producers should be able to use Chicago right now to establish price floors and ceilings and manage their risk. But they can't without entering into contracts and instruments that they know are rigged and that may well end up stealing all of their equity. It's like being told that if you want to go to the emergency room to treat your injuries from a car wreck you certainly can, but your doctor will be Charles Manson and your nurse will be Jeffrey Dahmer.
So, it's either go home and bleed to death or be raped and then eaten by psychopaths.
What a choice.
Welcome to Marxist hell...
Corn is to valuable to be used in making fuel.
It is like feeding your dog ribeyes.
Its a good thing too the EPA requires corn-ethanol to be added to our gasoline. We are so good to the environment and are saving so much money!
They recenty upped the ethonol mandate by 50% I think, plus the economy and paying farmers not to farm is driving food prices crazy.
Of course food and energy prices don’t get counted as “inflation”
If the people that make ribeyes, (ranchers) want Congress to get rid of the ethanol mandate, they need to attach a pile of hundred dollar bills to their request. Otherwise, they won’t get squat.
If we had a govt that cared about all the people they would now pull the plug on ethanol. The extra demand is going to cause the price of corn to spike..the world wide consumer is going to take it in the shorts.
I live in Indiana; we are in one of the worst droughts I can remember. The corn is stunted, and got virtually no rain during the June/July pollination period. The corn crop here will be a disaster. The beans don’t look as bad, but I suspect they won’t be much better than the corn crop. From what I hear, Wisconsin, Illinois & Iowa also suffered from drought.
It will be a bloodbath on the grain markets, and the farmers are going to get the shaft because no matter what happens to grain prices, the yields just won’t be there.
Goes to show yet another fallacy of a “green energy” initiative. Ethanol production will suffer, and it will be more expensive to dilute our gasoline with it. It’s stupid to shackle our energy prices to something that depends on fickle weather.
Ethanol belongs in a cold drink in my hand, not in my gas tank.
Here in Indiana, ethanol plants are closing up faster than K-marts in the 90s.
Congress eliminated the subsidy for domestic production and eliminated the tariff on imports end of 2011.
I’m assuming Brazil is gaining market share with sugar alky.
It's genius. Greeners are such idiots. Corn ethanol is such a stable additive. You know we never get droughts or freezes or floods to mess with the crops - NEVER. So it is save to say that we will always have a good crop of corn for our ethanol. What idiots. Oil is always available, gas is available but corn is always a must have. Environmentalists are nuts.
Locally, a 50 lb. bag of dent at the feed store has shot up from $10 to $11.50 in a short time.
My Lab doesn't get the point of that.
The comments on the link suggest that the movement of earth's magnetic north pole is responsible for the shift of the jet stream and consequent change of weather patterns. The pole has been moving so much that airports are having to repaint the magnetic orientation on the ends of the runways. This shift of the magnetic pole happens periodically. There isn't squat anyone can do about it.
Ah, yes, isn’t it grand? And to think, ethanol even pollutes more than gasoline does, but we’re not supposed to know that.
You’re not supposed to know that, either. ;-)
Can you use Soy?
Personally, I’m stocking up on bacon. I can’t stand the stuff but it’s full of protein and a little goes a long way.
Bacon fat is what my parent’s families lived on in the depression. It really adds to the rice and beans.
Sweet! yummy.. love it. white or yellow, no matter.
This is gonna bum out the po’ folk in Mejico who will have to make a tortilla stretch a country kilometer farther with this latest hit.. not to mention all the ranchers and livestock folk who use corn to feed their herds.
To waiver or not to waiver?
What will the 3rd Term of the Clinton Administration do?
The USDA is predicting the third highest yield in history according to articles last week.
I purchased large numbers of 45# buckets of wheat in nitrogen years ago. I've had to purchase rice and beans to supplement that so I would have anything at all to eat. The wheat may end up as a barter item as everyone in the household has some degree of allergic reaction to it.
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