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southern MN | I think the farm experts that sit behind desks see there is enough corn for use in 2007, and believe we are going to plant enough acres & quality to provide enough corn for 2008.
Many buyers contracted a bit more corn than they normally would - ahead of time.
So, going through the rest of 2007, there should be enough corn, possibly fewer active buyers than other years.
No reason to bid up old crop corn - it is overpriced, really? And new crop seems to be taking care of itself, the high prices brought about the goals that were set. No reason to bid up new crop corn either.
Today.
As we close out the planting season several weeks from now and reality - dry, wet, and cold or hot all come to be, new crop can get really scared & go wild - or not.
Old crop corn really has no reason to go up at all, unless folks start buying it to use in 2008 because of precived problems that far out. Supplies are low, but certainly fair enough, for use until next harvest. Already in the bins, no reason to raise the price on that?
The real question - will we have any trigger that makes the market go wild or not? And the experts that sit at desks are used to watching the "I" states for triggers, so frost or dry or whatever in Kansas, Tennesse, etc. probably won't be a market trigger for most of the summer, even if you & I see that differently.
--->Paul | |
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11% corn planted o Monday
