Market Matters Blog
Katie Micik DTN Markets Editor

Thursday 08/02/12

Beans Could Hit $20
In its July soybean report, Rabobank estimates a 2.8 billion bushel bean crop, but its worse-case forecasts put the crop closer to 2.6 bb. If that's true, demand could fall out of bed.[Read Full Blog Post]
Posted at 11:23AM CDT 08/02/12 | 0 Comments | Post a Comment
 
Soy Basis Gains 9 Cents
The cash basis for soybeans shows a gain of 9 cents, which could be related to the fact that some of the cash basis bids were still bid basis August futures while there were others that moved their bids over to the November futures.[Read Full Blog Post]
Posted at 7:58AM CDT 08/02/12 | Post a Comment
Comments (1)
I just got back from an ag confrence and I came away from it a bit bewildered. I am convinced that grain prices are going much higher. I am met with skepticism from all sides, from the producer to farm advisors. Everyone seems to believe that prices are to high and that doom and gloom is right around the corner. I understand the view and motivation of the farm advisors. For the most part they try and scare the producer into buying puts which cost a lot of money, but what really befuddles me is the mind set of the farmer. I think that many of them over the years have been cheated and swindled so often that they feel undeservent of the prices we now have. I tell them to look at imput prices. Are the fellows who are peddeling those servies deservent of their prices? My message is that the ski is not falling. The produces goods and services are just as important, if not more than any other. The farmer needs to know and believe that their worth to society is the greatest it has ever been. Don't believe the naysayers.
Posted by mike florez at 11:05AM CDT 08/02/12
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