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Yikes! Corn still dropping

D

Dave from MN

Well-known Member
Corn CASH $2.87 -0.63
Aug $2.87 -0.30
N-C 2009 $2.65 -0.60
Offered neighbor $2.60 a bushel for his 2000 bushels, because he was bi tching bout the price of hauling. I recommended he haul some in a few weeks ago when cash price was $4.20, he said he wont sell it for that. Now he needs that bin empty for oats or beans and is mad as a hornet.
 
You must be a meat grower of something. $1.50 corn will just make you have to buy $7 corn again in a few years like happened this time.
 
Can't be nothing but good, was artificially high because of ethanol anyway. Maybe associated products will come down.
 
did they shut down all of the ethanol plants lately? They are stil operating so explain the price drop. It was trader driven not ethanol, some people will believe anything they are told.
 
Its all the speculators because the midwest has been getting lots of rain except us and because they don't understand the worst time is yet to come during pollunation and fill out we're a long way from cash in the bank with much needed rain during fill out and barring another hurricane IKE fiasco.
 
1.50 corn ends up costing the tax payers a lot of money from the farm programs of ACRE, LPD, & Counter Cylical Payments. Thats also like telling someone I hope they work for below minimum wage. 1.50 corn also led to the use of Ethanol which a lot of people cry about. 1.50 corn also leads to financial problems for the Ag industry such as John Deere, AGCO etc which causes job losses. It also causes ag lending banks to go under and on and on and on.
 
I'm inclined to think it will go lower yet...
You had the boom. Now it's time for the bust. People seem to forget, this has all happened before. It's just going to be on a much grander scale this time...
On one hand I'm curious, and the other... downright scared to see what it's going to take out this time because I don't think a lot of people have the equity to lose this time out. I'm just wondering how tough the lenders are...

Rod
 
Associated produicts should have been down long ago.

They are quick to go up but may never come down.

See how much corn flakes were 2 years ago and see where they are in 3 months.

The farmer gets all the blame and has no control of what the retailer wants to charge you.

Remember there was 10 cents worth of corn in a box of flakes 2 years ago.There was 25 cents in it a year ago. Back down to 12 cents now.

How much did that box go up and down?

By the way isn't a box of corn flakes about $4.00.

Gary
 
I am a dairy farmer.last year was not a great crop year around here and I ran short on corn.I bought 10 thousand bushels so far and probably need another 10 to get me till harvest.Now I have no problem paying 5 dollars for corn if I am getting paid on the other end. But its hard to buy 5 dollar corn with 9 dollar milk.Been loosing 8 to 10 thousand a month since january.Not loosing profit. going IN THE HOLE. So I will take any breaks I can get right now.And 1.50 corn sure would help.
 
Yep and it's hard to pay for $800 a ton fertilizer with $2.50 corn.

Don't blame the corn farmer.

Blame the milk processors.

When milk was $18.00 a hundred, a gallon in the store was $3.20 or so. Milk is now $2.75 with $9.00 payed to you. They dropped 15% and dropped what they pay you 50%.

The corn cost you an extra 30,000 ($5.00 verses $2.00) and you lost 56,000. At $2.00 corn you still loose.

I feel for ya I really do. I still have beef cattle also and went out of hogs because of lack of income back in the 90's. But don't blame it on high corn.

Gary
 
I am not blaming it on high corn. And I bought that same 800 dollar a ton fertilizer just like everybody else did.Just saying cheaper corn would help me to not lose as much money every month.Might even keep me from having to sell out.At least grain farmers have a choice when they can sell the grain.Milk truck pulls in here every day.I used to sell all my crops so I know how it works.
 
The recession is causing corn prices to drop, which in part is caused by people eating less corn-based foods, which theoretically makes them less fat. So, the recession is making our country thinner. lol.
 
If you are loosing as much as you say,and,I believe you.A few that are milking cow around here has told me the same thing. $1.50 corn will not save you.
 
I understand your pain. I have a few friends that are dairy farmers and its really tough. Milk prices are way too low for the dairy farmer. Isnt cheap in the store. As ussual it is the middle man screwing the producer and the consumer. I hope things turn around for you dairy farmers, I am a poultry producer as well as some beef cattle.
 
It may or may not but it would help.Already burned through 10 yrs of savings and just sold 80 ac yesterday.And I I have another kid on the way due in nov.Had to cancel health ins to use that money to pay electric bills.Hope this price comes up sooner then later. One good thing is I have not been late on a mortgage payment yet so the bank has not shut me off.YET
 
(quoted from post at 08:34:11 07/17/09) I just paid 1.99 for a gallon of milk yesterday aso hold on to your hats, it is going to be a bumpy ride.
Click to expand...

1.49 at Aldi's food store here in north central Illinois. That's not a sale that is everyday price. Make sure u price match at Walmart AKA chinamart, screw them bstrds.!!

Farmer
 
I bet a lot of people will be kicking themselves for not enrolling in the ACRE price protection program. When the deadline was coming up last month, I heard on the radio that the enrollment numbers were far below what was expected. The price has been in free-fall ever since.
 
You mean troubles for companies like AGCO like this: "AGCO Corp. will lay off 154 hourly workers this Friday amid a softening agriculture market and a slumping world economy.

The announcement brings layoff totals for the Hesston-based agriculture equipment manufacturer to 214 in the past month, after officials laid off 60 full-time workers in early June.

The company also plans to reduce workweeks, as well as have three production shutdowns in the last half of 2009, including one that runs during the holidays -- from Nov. 23 to Jan. 1.
=======
Can Hesston, the workers, Kansas, and the entire area say OUCH!
 
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