022 Sunday night market update

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Prices as of 9:00 P.M. central time Sunday August 28th

Dec. corn $7.72Farm And Ranch Country

Nov. soybeans $14.27

Dec. wheat $8.00

Oct. cattle $115.00

Sept. Gold $1814.20

Sept. silver $41.14

Wow!!!!!

Cash corn only second time I have sold above $7.  Exports for grains bad, but lower dollar will help.  Drought causing cattle liquidation, but prices will be higher when drought ends.  Chicken sets are down.  Mentioned Pro Farmer crop tour.

Stock market could go to 1/2 of its high.  Gold and silver high.  Interest rates very low, could 30 year home mortgage be at 3.98% ??????  Farmland very high, but commercial real estate and home prices especially not doing very well.

Europe is a mess.  Swiss Franc very high in value, still good value in Canadian and Australian dollar.  Japan is a wreck financially.  Hyper-inflation could be our (world’s) next problem.

Mentioned John Mauldin and his book ENDGAME The end of the debt supercycle and how it changes everything. His weekly newsletter,Thoughts from the frontline.

2 Comments

  1. Jim Fisher said:

    Just a little bit juiced up about $7 corn. Wish I had a transcript so it could place $7 corn in my optimizer to get a number count on how many times you said it. I bet it was over 150. Just poking fun. The cast was great. It really is. I have tried to do a pod cast and I can’t. I’m not one to talk that much. Now type that’s a different story. My family gives me a hard time because when they visit I may only say five or six words. Then a few days later they read my blog and it goes on forever. Notice I said type not spell or grammar. I should pod cast to avoid my weakness but not happening. Your cast are good stuff.

    August 29, 2011
    Reply
  2. Bill Graff said:

    Well with the yields down ,we need a pretty good price with everything else higher in price. I know $7 corn hurts the livestock industry, but as the old saying goes cheap corn means cheap hogs. Livestock will have its day in the sun if we can hold out until then. I also believe for 50 years government farm policy prompted cheap grain prices which translated into cheap feed for the livestock industry so this country and much of the world could have cheap food. Remember one of the ways that the rulers of a country have been replaced throughout the years is not being able to feed their people. People dying of starvation do not fear the King’s enforcers as much. With that said $7 corn and the resulting economic vibrations will change agriculture if these prices stay up here for any amount of time. I also can make the case for high inflation with the exception of housing and job creation.
    Glad you enjoy the podcasts. I have fun doing them.

    August 31, 2011
    Reply

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