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Corn Opens Limit Up As HFT Robots Parse What "Ninefold Chinese Import Increase" Means In Fortran
It was less than three short days ago that we wrote about what is poised to be an imminent surge in corn prices. To wit, we said: "If revised Chinese import estimates by the US Grain Council are even
remotely correct, look for corn prices of $6.80 a bushel at last check
to jump by at least 15% in a very short amount of time. As the FT reports, "Corn prices – and with them, the price of meat – are set to explode if the latest import estimates from China are correct. The US Grain Council, the industry body, said late on Thursday
that it has received information pointing to Chinese imports as high as
9m tonnes in 2011-12, up from 1.3m in 2010-11." Why is this a
concern? Because "the US Department of Agriculture, which compiles
benchmark estimates of supply, demand and stocks, forecast Chinese imports at just 1m tonnes in 2011-12." In other words, the whole forecast supply-demand equilibrium is about to be torn to shreds." And with the market being perfectly efficient, and not dominated by dumb robotic HFT trading at all, it has taken the "market makers-cum-liquidity providers-cum-no volume meltup facilitators" just over 48 hours to understand what this means. And what it means practically, is another limit up open in the grain.
And after Rough Rice had a nice profit taking two day session, the world's most consumed staple is once again back on the verge of $16 and breaking out to the $20-24 level. We wonder how Egyptian protestors will feel when they realize that in the two weeks since the Egyptian revolution started in earnest, most foodstuffs have increased by another 15%+.
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But you can't eat corn. Oh wait.
The rice however, is questionable.
The real question is How will this affect corn subsidies in the U.S. Will the U.S. still be producing Ethanol when the cost outweighs the benefits?
The cost has outweighed the benefits from day one. The current ethanol subsidy is just north of 50 cents per gallon.
Do you think well ever go back to not using ethanol?
Good thing we're spending our tax dollars (and borrowing more from the Chinese) for those corn subsidies. Otherwise, who would grow the stuff?
Exactly. Even Brazilian sugarcane ethanol is marginal. Dem cornbelt votes is 'spensive.
But it's not socialism when it's requested by a congressman in a Red State.
I think by "Dem", he meant "them".
I know, but I beat farmer socialism horse all the time.
Sorry I butted in. My bad.
It's ok when they do it.
lol
But you can make ethanol out of it and either drink it or mix it with your gasoline.
WAIT WAIT WAIT!!!!!
I ACTUALLY THINK MY MORNING CORNFLAKES MAY ACTUALLY CONTAIN CORN!!
WHAT'S NEXT???!!! THE PRICE OF THE LITTLE TOYS ALSO GOES UP??!!
The price of the little toys? That depends on the price of lead, my friend.
Funny, when you think about it. We barter corn to China in exchange for lead...toys.
Great, there goes my morning corn flake fix.
Tyler, you were spot ON!!! Long Jiffy Pot
you mean Jiffy "Pop"? ;-)
Maybe he smokes his corn instead of eating it. Of course this means a bottle of my favorite whiskey is about to rise in price...damn it!
You really should consider the malted barley variety...price has nothing to do with it.
ever wonder why it's still illegal?
http://www.cannabisculture.com/articles/5169.html
http://www.defendfreedomsite.org/hemp.html
http://thecannabischronicle.com/henryford.html
- these are legal to grow.
http://www.youtube.com/watch?v=AKs-LT1IMX0&feature=related
screw your whiskey, whats gonna happen to the price of my corn kernel cat littler?
aint america great, we have cat litter others would eat. Hell, we could eat it.
"corn kernel cat littler"
Ummm, don't you mean Corn COB cat litter?
It is also very handy in the tumbler for cleaning up brass picked up at the local outdoor range - with a shot of Flit or Lyman polish, of course!
Ground corn cob has been used for years in many different applications, including animal feed. Don't know of many humans that have developed a taste for it though.
use to eat dog biscuits, growing up. i didn't tell any one though†
I know people who eat dog biscuits as adults. I know people who bake dog biscuits and taste test them.
as much fun to make as it is to eat, bitches
Thanks, TD.
I'd really appreciate it if you could cook up a rally in the bean pit, too, if you get my drift...
there's great foresight to be found here at ZH.
Shhh. that's our secret.
Too bad because when the SHTF, only a select few will know what is going on.. like this "stuff"
The latest national survey by the Pew Research Center for the People & the Press, conducted Feb. 2-7, 2011 among 1,385 adults, finds that nearly half (48%) say they have heard a lot about the anti-government protests in Egypt; about the same proportion (52%) reports hearing little or nothing.
They'd rather watch Dancing with the Stars than to bother with "stuff" like this..
The Keynesian won 2008 with 52% of the vote ... coincidence. I think not.
Correlation and causation merge yet again in wedded bliss.
That 52% is what we're going to be eating to survive, since big agra will fold when the oil stops being refined. That's the end of corn for a while.
But we might not need them all for food, I remember reading that the Aztecs got by eating only about 11% of their population. We could possibly take the surplus and harness them to plows and cultivators, to grow non hybrid corn. Kick start the corn market all over again.
You are so sick... sick, sick, sick..................................
um. pass me a breast will ya.
"I gnawed off a limb - I'm not saying whose..."
shout out to Jonathan Swift's Modest Proposal
So, are vegetarians considered free-range humans?
i some times eat my own skin. not much.
Duplicate... I have now exorcised the foul spirit from my laptop with the blessed refridgerator magnet.
Enchirada
Priceress!
Fly lice and colin dogs
Its all the evil speculators Tyler...how much longer will we have to wait for a House or Senate AG committee hearing...its like oil before the 08 crash. Maybe someone will ask Ben about this today
How high can they push the price of corn before people bail and start eating dirt instead?
Corn opens up limit up, and CSC takes a kick in the balls.
...as governments panic and begin to hoard worried about future uprisings.
am planting corn this year. Better buy another 50 lb bag of flour soon too.
Keep me informed how the planting of that flour went :)
After two years of growing corn, I vowed never to plant the weed in my garden again. It's a heavy feeder, pests love it, and it provides less nutrition per square foot than many other veggies. I'll have to try planting sack of flour this spring. Thanks for the idea.
Corn provides more bushels/acre than any other grain. Beats wheat about 3 to 2. But, it does require a lot of fertilizer.
So much for using cobs to wipe my ass...
go roman and use vinegar and a sponge on a stick.
Soon, in a market near you...plastic corn and 'meat' that makes Soylent Green seem like a luxury.
You can make your own soylent green you know?
JUST BUY A GUN AND A BLENDER AND INVITE ALL THE OLD PEOPLE IN YOUR STREET FOR COFFEE!!!
Hmmm, got guns and a Vitamix. Thanks for the idea SD!
pods
Check it out:
Think of the jobs this could create...of course we'll have to subsidize it. Brilliant!!!
Please leave the dirty oil sands to the Canucks, you brilliant yanks keep using upwards of 40% of your corn crop for fuel. Brilliant public policy. Just brilliant.
Also please continue to ignore the viability of natural gas as a fuel, otherwise one might have to question giving $7500 rebates to purchases of the Chevy Volt (how many has GE bought LTD).
+1. Burning food is one of the stupidest things we've ever done.
Yes.
Yes.
No, it's just weaponization of one of our greatest resources. Just think, every sqeal of the tires in your muscle car is like you're burning a destitute for fuel!
This is what people deserve, we try to be nice, bring democracy, technology and all the good shit to them and they want to bitch about imperialism, whine about how we "tell them how to run their country". Fine. Now we'll play hard ball. We've fattened up your populations for 40 or so years, got you beyond your means of self support. Now we'll take the bad pill this morning and guess what? You work for us now, or you don't eat.
Yeah, the corn crop we burn diesel to grow,,,, so that we can burn the shitty subsidized ethanol in our cars. And eat plastic rice.
Not to mention all the damage ethanol causes to small engines.
What's with the references to plastic rice?
Corn to Ethanol is the U.S.s very own version of the Easter Island logging industry...
Easter Island was pretty incredible. loved the forest story.
Duplicate...
I was reading somewhere in the news yesterday that the poor in a province in China were being fed plastic rice.
It's been going on for a long time already...
problem is that they can't crap it out and that's the reason why they can't keep their eyes open...
THIS IS BETTER:
FAKE EGGS!!! AND THEY ACTUALLY EAT IT:
http://www.hoax-slayer.com/fake-eggs-china.shtml
It's probably not Fortran but Java.
If they still use FORTRAN, that would explain the flash crash.
This is clearly bullish for Apple - when food's too expensive, they'll spend the money on iPads instead
Just start making PLASTIC corn! Voila!!
YouTube - OMG! do NOT eat Chinese rice - 3 bowls = 1 PLASTIC BAG! polluting the food supply!
There's actually a phrase in Chinese which is something like "swapping babies time" - it comes from when there was a famine caused by the Mongol invasions and people would meet in the town square to exchange their dead children for the children of other families, as you didn't want to eat your own....
I wonder if eating tree leaves will become a delicacy......everything associated with corn cost too much now thanks to Uncle Ben, raising use of ethanol in gasoline, meat products that are grain fed raised, cereal, bread, etc.....
I'm stocked up on everything. I'm watching sugar prices.
Tax credits for ethanol sure worked expanding infrastructure in the Corn Belt. Now in the hands of few after 08, 09 bankruptcies.
Limit up - coming to a precious metals market near you.
no limits in pm markets....parabolic up
Fortran - the time tested language of wisdom
Wait to see wheat triple this year. China's winter wheat crop is fucked. Utterly fucked..
Proper fucked?
http://www.youtube.com/watch?v=Zy7OdvPvFyU
Corn and Fortran in the same story headline is solid
Tyler must be an old fart. No one programs in fortran anymore.
He is implying that it is the old farts moving on the news....
You don't know shit.
Everbody complained to him about his sparc comments without realizing that sparc still owned huge and I mean huge market share in the enterprise sector. I just ran across a topic of discussion about developement of symmetric multiprocessing and what held it back the most was people sticking to thier sparcs and AIX.
Fortran programmers were hard to find even ten years ago. Now we know where to find those grizzled old timers!
Every single physicist astrophysicists and most engineers can program fortran. It's not a fucking fad. It's formula translater. Everybody who uses math heavily and extensivly uses it. Now get over that fact.
You are such a loveable old fart, Haphy!
Don't make me beat you to death with my turbo pascal floppies!!!!!!
Just wrap him up in paper tape, stuff a few Hollerith cards in, and push his head in a mechanical teletype machine!
He is implying that it is the old farts moving on the news....
Security through obscurity.
GREAT IDEA! Then I shall be going back to punch cards.
Fortran 2008 was approved in September 2010. Someone somewhere is using it.
Fun Fact:
Fortran 2003 brought Object Oriented programming to the old gal.
The old gal has had a makeover but she is still the old bar floozy who has seen better days. Maybe she can hook up with COBOL. I see him around every once in a while too.
Oh she is a floozy I will give you that. I bet she would love to hook up with COBOL. He is sitting on top of billions of lines of installed code but he is busy with his life partner APL. Don't you question their love!
The problem is programming languages do not die. They go into a long tail where they are maintained in a undead like state due to the shortsightedness of management.
I'll raise you COBOL
COBOL for the 21st Century http://www.amazon.com/COBOL-21st-Century-Nancy-Stern/dp/0471722618/ref=d...
Just like the evergreen, the COBOL programming language has remained vibrant and full of life year after year. Today, COBOL is running a large number of the world's business data applications, and it's likely to remain a viable language in the years ahead.
Still going strong, can't keep an old man down! If you listen closely when you open the amazon page you can almost hear the Duck Dodgers theme.
COBOL for the 24 1/2th century! Warms my heart.
Rotflmfao!
Lets take the peg war to the chinese and teach them a lesson they will never forget. Everyone go buy 200 lbs of corn and throw it out in the woods. I would rather the deer and turkey get it than the chinese.
I would certainly rather eat deer and turkeys than chinese people.
Chinese too tough and stringy.
Plus you're hungry again an hour after mealtime.
Lol! You made me snort coke up my nose! And not the good kind either.
Lol! You made me snort coke up my nose! And not the good kind either.
You guys are in good form today.
Are they easy to clean ?
Soy +0.3%
Wheat + 1.12%
Corn + 0.48%
Long THLD this in much better than Corn:)
WRITE(6,FMT=A) 4HBTFD
Hmmm... China stocking up before attacking?
and filling up the 5000km underground storage facility
Walked around that facility under Beijing-rather amazing until ya find out that some of it is only 30 feet underground. Bunker busters would destroy it let alone nukes. Oops! Milestones
"One word: Plastics"
http://www.youtube.com/watch?v=PSxihhBzCjk
YouTube - OMG! do NOT eat Chinese rice - 3 bowls = 1 PLASTIC BAG! polluting the food supply!
Corn hasn't opened yet! the quality of corn reporting here on ZH has been awful lately.
Floor hasn't but electronic has...
Corn has no nutritional value...
Corn is what? filler?
http://www.livestrong.com/article/18783-nutritional-value-corn/
Bingo
like carnations†
Thank God corn not included in core CPI
Thank God for Ben that anything we need is not included in the core CPI but that homes are. Light's out... Egypt is here
I prefer Mar11 Soy on a weekly for outright 'wtf?' hilarity.
Corn production is about to be nationalized - watch for it. At $6.80 for corn, and even with the subsidy dooubled, the selling price of ethanol would have to be @ $3.10/gallon for a standard 52MM GPY ethanol plant to break even.
If there was some way to post it I have a 2010 Purdue University spreadsheet for that 52MM GPY plant that makes the dynamics perfectly clear.
1/3 of corn produced in the US is used to make ethanol. The entire ethanol subsidy is a big scam. Drop subsidies for farmers, open the market for Brasilian ethanol and you will see the corn price plummet.
++
of course sugar would skyrocket if they removed the tariff from Brazil's ethanol.
funny thing is you can make 25-35x more ethanol per acre from algae.
Hey, we went to the moon on fortran. might as well send corn there too.
No-take the 1/3 and stop ethanol production and sell/trade corn for oil on a 10 year contract, THEN you pull the subsidy from the farmers but Archer-Daniels etc get the difference between the subsidized corn price and the oil contract; so the little guy gets to keep getting screwed.
Watch for the deal over the next year. Milestones
no, electronic and pit are closed from 715-930
and it didn't open up anywhere near limit up, up but not close to limit.
Come on!
We dont want facts! We just want an excuse to duke it out in the threads!
wikivest showed corn at 688 locked at limit 15 up
Corn opened up 2.5%, I dont see what youre whining about here fast99snake.
Floor just opened...wowza!
corn +2.52%
soy +0.54%
Wheat + 1.06%
Fritos, bitchez! (the new gold)
i'll parse if for you. lieutenant john chard's family freezers are loaded to capacity with rice, coffee, butter, beans, wheat, flour, etc ...
Hey Tyler will you goose the natgas price next? I am all loaded up at 5.45 on margin. Yeah...I used again. That shit is addictive.
The US Grain Council, the industry body, said late on Thursday that it has received information pointing to Chinese imports as high as 9m tonnes in 2011-12, up from 1.3m in 2010-11.
WTF - a seven hundred percent YOY increase in corn imports? Why the huge ramp, hoarding?
Chinese are scared as shit what with memories of the cultural revolution and now the mother of all ghost city real estate bubble. Balls to the wall with those chinese peggers. They will destroy themselves unless they de peg.
China gets to use some of their US$ too.
Hey DoChen.. 'tsup, man?
My grandfather was among the first professors to teach FORTRAN at one of only 3-4 universities in the US, at the time, that had a computer science program in the 1960's. True story.
The primary thing driving up commodity prices worldwide are speculators armed with cheap money provided by central bankers and super fast computers. This is causing a havoc in the lives of rest of the population and pushing them towards poverty as they can no longer afford the basic necessities of life.
Regulators are either hand in glove with the banksters or are too slow to react and take ages to identify and take measures to solve the problems.
Total ban on speculation and the reinforcement of Glass Steagall Act is strictly required to bring relief to the man on the street.
http://www.marketoracle.co.uk/Article24581.html
So that is the storyline these corrupt incompetent third world governments are telling their people. If you are going to troll here.from china then you need to register as a foreign troll. It only takes about four weeks longer than domestic registration.
Why do we even eat it, seriously why? you stuff it in your face chew and chew, swallow only to poo it out whole the next day. It has very very little nutritional value.
EDIT: Come to think of it, I prefer teh wax candy corn.. it tastes better anywyas... /sarc
My long term indicators still warn of significant US Dollar upside / Euro weakness.
This will affect commodity prices...
http://stockmarket618.wordpress.com
I'll believe dollar strength when I see it...$10 billion more fake dollars per day does not equal dollar strength. At the most you might see relative strength due to other currencies just being more worthless. Big deal.
Is it just me or is your analysis always wrong? That or you use the wrong metrics. USDX is WORTHLESS, since it is composed of 90% shitty devaluing currencies.
You trade your own advice? How are you doing? I'm up a little over 100% over my dollar cost average. About 250% over my initial (major) investment. Much more of this, and I might just retire to the gulch, or to a sunny beach somewhere.
dude...give us your trades ahead of time like I do. What are you in now?
I have, many times. ~95% physical silver, ~5% physical gold. Been all in for over a year now. Feels good man. So far I've only cashed in a tiny amount to take the family out to a nice dinner at $25, and a bit more to pay for some renovations to my mother's house.
Trading is for suckers. This investing stuff is easy.
And fast food restaurants are up on this, lol. Go figure.