6-30-19

USDA..Shut them down

Scott Irwin
“I think this is by far the most important information NASS published
about the June Acreage Survey today. Notice in corn that 16.7% of the 91.7 million acres
was still intended during the survey period of the roughly first 2 weeks in June. This is 15.5 million acres.”

INTENDED is the important word.
USDA changed late in the game about silage/corn/PP
There signaling a serious problem with production.

They gave there BIG donation lobbiest the chance on this break (Ethanol industry and livestock
Chicken /feeders/end users to now BUY futures as the hedge for the yr. They are not a farmer friendly group.

Also to there BS they now will do a survey on 11 states to be reported in August on acres..PP going to be back in play with price discovery.

One more note just to think about. This report is WHY (as some others in the past) should be reported back at 2 pm. cdt. Then if they make an announcement about re surveying, trade can digest the┬ánumbers and news. We won’t have touched limit down imho.

I’m still a corn bull and just watch the technical numbers for support.

Dec. Corn will not work with res: at 449-450 important area again.

Be Safe
Scott Capinegro
800-942-1513
barringtoncommodities.com