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North Central Illinois | Ray,
You make an excellent point about demand base. This market has performed unlike most years by inching higher as we move toward harvest. I'm afraid end users will yet again be caught with their pants down. With the acres that we were lead to believe were planted and the early condition of the crop it certainly looked like we were headed for a big national number on corn. There wasn't much incentive for end users to cover needs out any amount of time since it looked like we would be much lower at harvest. This rally is dangerous in that if it continues to go higher livestock and ethanol industries are in grave danger. The sad part is that even if the corn market goes to $5.00 or higher the money is not going to end up in the farmers pocket. Landlords wanting $350 cash rent and fertilizer manufactuers raising prices for every penny the market goes up are going to eat up any additional revenue that the farmers sees and then some. Pretty scary if you ask me. | |
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4.39 in dec corn
