Re: corn prices

Posted by paul on April 02, 2007 at 18:22:26 from (66.44.132.154):

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

We always have had enough corn, and more than enough soybeans, to get us into December of 2007. The fear was a shortage of corn (or beans, or wheat if too much land went to corn....) for use during 2008.

Once crops are set in the ground, ther is no reason either corn or beans should be any higher than they were last year at this time. There is plenty available. The prices rose up to be sure plenty of corn was planted for use in 2008.

As of February, we farmers have said we planned to plant way more corn than needed, & we have such a surplus of beans -that prices should probably drop down a lot.

However, the world is on edge from the past high prices, and the feeling that China & other countries will still be using more grain than before. so, any change in actual planted acres from the February intentions; as well as any weather issues that come into play will be very highly magnified and we will see grain prices ride real highs & lows. The big buyers who sit behind a desk are worried about mid 2008 and then 2009 as well.

As well it is very wet & very cold right now in prime corn areas. With corn prices dropping & beans going up or holding, some of those intended corn fields will probably end up soybeans after all. Then a lot of the corn already in the ground is in poorer ground, and ill burn up, or freeze out, or just be on lower yielding ground. We will find some time in May or June that our average national yield is now much lower than we expected. Again making a run on prices one way or the other.

So, folks are offering, or speculating on paper, that prices will go up 6 months to 15 months from now, and building that price rise into the current prices.

Currently, we have plenty of grain to cover this season.

Interesting times.

--->Paul

Replies:

• Re: corn prices VADAVE 03:50:40 04/03/07 (0)

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