where r grain prices going ?

will they continue strong after new year ?

I don't know. The analysts on AgDay are saying the market is WAY overpriced. They claim traders are just trying to free up some of this grain that's in the bins,trying to get it into the pipeline to where it needs to be.

I don't know about that. The Farm Credit guy and the fertilizer dealer in the last couple of weeks think there is stability in the prices we are now seeing. There are definitely supply issues with commodities such as soybeans and cotton. It is figured that it will take two good wheat crops to get stocks back to where they were before this year. Corn I just don't know, could go either way. I told the fertilizer dealer I was not going crazy with corn especially on the more marginal ground.
Oh well, if these experts were never wrong down the road they would be all billionaires.

Doesn't matter now, sold the milo last Thursday for $5.51 Heard reports of year end profit taking may drive the price down. Can't pay storage forever. Sold the wheat last summer at $4.25. That included the 2009 crop we were sitting on. It is now up to $7.50. Oh well. I remember the last time wheat approached $10. I waited and then it dropped. Sold it for $4.80 after it had been around $9. I give up on thinking about hitting the top and maybe best policy is to sell across the scale. In light of past performance, forward contracting may be on the horizon to lock something in. Other than that, I read the markets should remain strong for a while and generally follow the price of oil. There will always be peaks and valleys.

Don't know that they were predicting $2.50 corn or $5 beans,but corn was over $6 yesterday and beans closed at near 13.75. A few weeks ago I'd heard that about $1.50 of the current corn price is purely speculative money from fund traders.

I think we'll see a "new normal",but at best,in my never to be humble opinion,were looking at longterm corn $4-4.50,$9-9.50 beans,cotton in the $90 range. Oil was gonna keep going to $200 and beyond when it was at $147 too wasn't it?

The only way for raw commodity prices to stay nosebleed high is for the products that they are used for are profitable when those comodities go in to them. Pretty tough to put corn and beans in to something and come out profitable at these prices.

Don't know how that got up here,it was a reply to NY986.

There is more down side risk than upside potential in this market. Thats not to say that we wont see a short term rally even higher. I'd start locking in prices over 6 for corn and 13 for beans if there is any way you can cover that with production. Last night on ag web they were saying that at current corn and feeder prices there was no way to lock in any profit with fat cattle. So, the fed market has to go higher or the rest have to come down. My guess, and thats all it is, a guess, is the market has gotten ahead of the economy.

Ask your broker. The 'Market' will set the price.
See the movie: "Trading Places."
Their explanation of markets (and Brokers) is the best short lesson I've ever seen.
"Mr. Valentine has set the price."

Yep, sold quite a bit of wheat at harvest for $3.44. It was all low protien and the basis was really high at that time. The same wheat is now around $6.50. Who knew?? We put some in the bin at harvest in 2009 and sold it the following spring for the same as when we put it in the bin. Sure didn't work to store it that year.

Seems it will do something drastic - but up or down? That's the question.

Sounds like a lot of grain was already sold, those of us holding some are holding pretty tight. If someone needs to buy, they need to move it up.

If the dollar remains weak, our grains look cheap to other countries so the 'high price' doesn't look very high from their side.

Two things are gonna control this grain market in the next 6 months:

Weather - here and in South America. This short term rise this week is a dry South America - they catch rain & things go down again. For the momet. But any dry spells in March/April in USA and back up she goes!

Govt - if grains spike up higher, will they fel the need to 'do something' to control food prices. Drop ethanol support, open imports to sugar, open CPR land, embargo grain sales. Any of this has long term & devistating results to USA ag.

There will likely be an early spring bidding war for grains - food wheat, corn, and soybeans will all appear a bit short at different times, and will run up the CBOT price looking for more acres of that crop of the wek.... But will we be at current or lower prices when that run-up happens?

I'm sitting here with 1/2 my corn & beans, shaking my head, why don't I sell? But them it goes up another nickel.....

--->Paul

Sold corn for 6 dollars in the fall for march delivery. Figure I'll never go broke taking a profit. It may go up, but don't see how anyone can afford to feed it at any higher price than it is now.

Joe

Best advice I ever got was bulls can get fat, bears can get fat, but pigs get slaughtered. I'd rather take the profits when I can get them rather than hold out for a dime more and lose a dollar.

I'm kinda disappointed that Russian drought thing happened all of a sudden and the price skyrocketed. Droughts don't happen overnight. Some of that market funny business.

Same funny business goes into the basis. Watched the basis for wheat go from .45 to $1.25 in a year. I thought basis was supposed to reflect transportation costs to market. Gas didn't go up that much. Two elevator companies 20 miles apart can have have a .40 or difference in basis. Then we have the difference in basis between grains. Milo was anywhere from .58 to .70 for basis and wheat is a lot higher. Last time I looked, rail cars and trucks don't care what goes inside them, the price to transport grain is the same. End of rant.

One thing to remember about grain prices. They for sure will come down but no guarantee they will go up.