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Glasgow, Ky | Understand your concern about input prices. Looking at beans, futures for Nov 09 beans closed at $12.97 today. Given normal yields, what kind of price increase would have to occur with glyphosate, fertlizer and seed beans to make pricing at this level a bad move?
On the other hand, what is the probability that beans could be significantly lower when we harvest the 2009 crop? If that is the case then input prices will most likely be down too. Those $12 beans would look mighty good. It is interesting that a run up in input prices created by high bean prices is keeping people from locking in high prices in future years.
If $12 beans are the cheapest beans I sell for the 09 crop I think I will still be able to farm another year. If not, my wife has plenty of work for me to do.
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In the Scheme of Things.
