Quarterly Stocks Report

[errolanderson]

Supportive to corn
Not supportive to soybeans
Neutral? to wheat

Guys . . . canola still remains in big
trouble technically. Soybean longs are
spooked big-time and there are way too
many bulls running for the exit door.

Nov beans have a chart gap way down at
$14.80/bu. If that happens . . . say
hello to $550/MT canola.

Errol

[boarderbloke]

Like the turn around in MGE and KCBT wheat, all months! Hope she holds and moves up from there.

[crusher]

The ace in the hole is exports. Who's going to supply the world market in January and February? I wouldn't be surprised if we hit a low next week when China is on holidays, but anticipate a return up after.

Nice pop in wheat this am, good thing I made some sales yesterday. Though still got my lifetime highs for feed wheat.

[boarderbloke]

Seems USDA has lowered their Durum and Hard Red Winter Wheat est. since the Aug report.
"Other Spring" likely refers to HRS which they have increased.

[URL="http://futures.tradingcharts.com/news/futures/DJ_USDA_Report__Summary_For_Grain_Stocks__Small_Gr ains___186351735.html"]Wheat Stocks[/URL]

[boarderbloke]

sorry, I typed "Wheat Stocks", where I should have typed "Wheat Production"! They are the production numbers.

[boarderbloke]

Soyabean production numbers even higher, than the higher-end range pre-report trade estimates!

[fjlip]

That's Soybean stocks on Sept 1st, not 2012 production, right?

[errolanderson]

Massive fund buying this morning that
locked corn 'limit up' and rallied all
other grains despite an unexciting bean
stock number. Nov canola was trading
above $600/MT until the last two minutes
of trade, then sold off . . . .

Personally thought the corn reaction was
overdone, but the market is always
right.

Monday will be interesting as funds will
have the weekend to digest.

Hope all of a great harvest weekend . .
. .