Re: corn prices

Posted by rrlund on April 02, 2007 at 17:34:31 from (216.46.211.177):

In Reply to: corn prices posted by PJBROWN on April 02, 2007 at 16:40:09:

Beans were up almost the limit today. I expect we will see $10 beans before all that corn is in the ground,trying to buy back acres. Trouble is so much of that new corn is coming from cotton and rice. I'd read on farmfutures, cotton planting was going to be down 20% this year. There is a problem with rice planting. 25% was to be Clearfield and it was pulled from the market at the last minute for genetic reasons,so look for that ground to go to corn if they can't find replacement seed in time. I really don't think we'll see 90.5 million acres of corn planted,bean prices will buy some back,but still a huge number of acres of corn will go in. All the new and existing ethanol plants are going to need it. Michigan alone will be corn deficit with the plants we have,the one expanding and the new one coming on line. Cattle futures are responding well to the lower corn futures anyway.

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