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NW Indiana | The market however is on the tipping point of taking away any incentive to try producing more bushels. Why spray fungicide if corn is $5 or less and you have 85% coverage? PP is becoming very appealing if don't have any N on yet. These prices don't shock me but $4.75 of less before a good size crop is known seems over done. The anticipation is likely the May wasde will be the most bearish report until at least August and the funds have acted accordingly. A rally into mid June still makes a lot of sense imo. | |
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$5.00 Dec and $12.00 Nov.
