bean prices

What do you guys here about soybean prices they just keep going down hindsight now but maybe shoud have sold at harvest time.

Beans prices will follow corn prices for the most part.

If corn goes down so will beans,if corn goes up so will beans.

Corn will not go up till Crude Oil goes back up.

Gary

Kinda of a tough deal for the farmers since it's in the best interest of the country for crude to stay low to help the country pull out of a recesion.

We have a bad situation in ag brewing. Land prices, fertilizer, seed, and most other inputs have risen drastically in the past 12 months and - other than fuel - do not show signs of dropping much. Most of these items needed to be purcased or secured a few months ago when all prices were high, and so now we are stuck with this bubble of high-priced items.

Corn has dropped from $6.97 'here' last spring to now at $2.60. It appears to be continuing down. Wheat - for wheat growing areas - likewise has similar issues.

Soybeans can be planted with little fertilizer - it will mine the ground of P & K for a year, but it will grow ok. We are setting up for a huge increase of bean acres, as corn & spring wheat are not even close to breaking even with _these_ prices. Even beans don't look good, but at least you don't have much money tied up in them.

Unless something changed between now & March (grain prices up, or fert & seed drastically down) we are setting up for record soybean acres and record low corn acres.

That will affect us in summer of 2010, with a shortage of corn & wheat in the USA, and very depressed bean prices from the over production.

Whether buying or selling grain - or just buying food - folks might want to watch out for what is going on. _Something_ needs to change or we are set up for some real bad rollercoaster effects that will last a few years. And affect food prices.

This is a 'normal' reaction to the crazy grain price spikes of last spring, the timing of the ecconomic housing bubble collapse is just going to make it much worse - grain prices are dropping much faster & steeper than a 'normal' rollercoaster.

Heck, I don't even think the 'cheap' crude oil is really a good thing - it stiffles exploration, conservation, and work on alternative energy sources. But - that is another topic entirely, & yes I do smile more when I pull into a gas station, so I'm not eactly complaining about it.

--->Paul

Paul, you said a mouthful in your last sentence. While I am extremely happy to see fuel prices go down, it gripes me that so many are quickly forgetting what we went through this past summer and what we WILL go through again. Now is the time to really role up our sleaves as a nation and do something about diversifying our energy needs but even T boone is backing down.

Well anyways I hope it works out for everybody farmer and non-farmer, cause we all need each other.. Take it easy

Peabo

Kinda wishing I would have contracted a bit more beans and a lot more corn, but oh well. Had 50% of my 08 corn sold at $5.50 or higher, about 40% of 09 (theoretically anyway) for the same. Almost all my 08 beans went out the door at $12.50, still got a bit left that can sit for a while, and my 09s should be 60% sold at $12.30 and a little bit at $10.20.

To borrow a phrase from dave in Chermany regarding your's and paul's msg........bingo!.