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Mike McGinnis interview with Joe Bedore

Mike McGinnis interview with Joe Bedore

Fri, 10 Aug 2012|

-So, what do you think about these corn markets selling off with the-- such a bullish report? What do you hear? -I don't think of-- what you say a bullish report. Yeah, I think it is a bullish report. But I got to think that people were looking for something better than 10.7, whatever it was. 10.77, right? -Yeah, 10.77. Yup. -Yeah. I think people were looking for something better than that to bull it up, to get it rolling to the upside. I think we had to be below 10.5. So, I think people now are under the impression that we're just gonna sit here and wait and see what happens, right? -I see. For the-- for the, you mean, for the combines to roll. -Right. They're gonna see what happens. I don't think anybody believes this is a 10.77, okay? -Uh-huh. -I think everybody would believe it's more closer to a 10.1 or 10.2. But now, they have to wait and see. And I think they are just gonna hold out to their long positions, they are not gonna add to it, and that's why you're not getting a reaction really much here in the beans-- or the corns. -I see. -Now, the way-- only way we're gonna get a reaction in corn, is if the beans really take off here and put in a 50, 60 higher date, right? -Okay. -Now, then the corn will take off and make up, you know, make up some ground. But it's not gonna do it on its own. All right? Because people just don't wanna buy-- they just don't wanna add to their position. And that's it. They're just gonna sit here and watch it.