8-20-10

Today Pro Farmer issued its yield outlook from this weeks tour. Corn 164.9 yield and beans 44.9. Trade this week was looking for lower numbers in corn. We will be lower Sunday night.

Cattle on feed report looks neutral. COT commerical is short 629,000 contracts and everyone else is long 65% of the open interest of corn Red flag yes.

We want to buy breaks in corn because of demand and we think yields are lower than 165. Also harvested acres will be trim back because of weather. Both to wet and south to hot and dry. Support numbers dec. corn 425 then 419, 407 and 402.

Many weather problems around the world and to long to discuss here. Call if u want more specifics.

We see higher price this fall and winter. Demand. Also we need to plant 4 mil more acres of corn to meet USDA demand for 2011. We will have an acreage battle and we love long new crop corn 2011 vs.new crop beans 2011.