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232 comments on DrumBeat: July 29, 2006

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Nate Hagens on July 29, 2006 - 10:54am Permalink | Subthread | Parent | Comments top
Robert - for every farmer thats showing drought conditions or poor crops, there are two not saying anything because their crop is great.

Corn futures (and soybeans) are near their low prices for the year - if there was too much ethanol demand and/or drought, prices would be much higher. The market will not solve our long term problems, but its pretty good at pricing short term supply and demand.

december corn futures chart

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Robert Rapier on July 29, 2006 - 11:04am Permalink | Subthread | Parent | Comments top
Depends on how much is irrigated. Look at the link that "Consume More" supplied. All of central South Dakota is experiencing exceptional drought conditions. Note that the guy I quoted said they are still using last years crop, and next year is when they will feel it.

Cheers,

RR

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Nate Hagens on July 29, 2006 - 11:18am Permalink | Subthread | Parent | Comments top
that makes a bit more sense.
Next years future (dec 07) corn chart doesnt look as bad
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fallout on August 1, 2006 - 2:07pm Permalink | Subthread | Parent | Comments top
Crop futures prices are not a bellweather for future supplies.
Call the USDA, they'll tell you the same thing.
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232 comments on DrumBeat: July 29, 2006

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