08/26/2024 Bombs Away, Rivian Burns, and Dollar Lowest of the Year

Corn Markets Make New Lows You can click the picture above to take you to this morning’s episode. On the Grains Limited action on the overnight as we start the last week of August, Friday is First Notice Day on September futures, here we go again with the basis contract that must be priced or rolled. With September to December at contract high, 23 cents carry, its lots of salt to pour into the wounds for guys that are thinking of rolling, we can probably do something in the options pit with less risk/expense if you elect to stay long. The Dollar index has put a fresh low in dating back to December of 2023, I know I have said this before, but if we can’t sell it here, where can we sell it. Last week’s flash export sales were a good start. However, we need to see those continue to give the market any sort of hope or reason to cover massive shorts. Higher crude oil overnight is even failing to support this corn market as we put new contract lows in and honestly, I don’t expect much positivity until we get past first notice day.Profarmer released its final…