House here in MN is heated with heating oil (basically diesel fiuel) - Corn would be cheaper at $6 a bu, think $7 would still be cheaper than fuel.
I gotta get my wood burner replaced....
Elevators are not taking long-term contracts any more, they have to deal with margin calls when they do that, and that got real expensive. Don't ask me to explain it in simple terms, but as they try to offset their sales, they have to pony up more & more money as the price goes higher. It is possible some will go broke, most no longer contract 2009 crop any more, several are not contracting for the 2008 crop either - or basis went up a lot to cover the margin calls.
This leaves us farmers holding the bag - high prices, but we can't lock them in. What if prices drop in fall - would be natural with a good crop. We get heavily invested, folks hear about the 'high price of corn' all summer that we can't get, then in fall we get low prices again....
Will be interesting, could be a lot of good & bad coming from these prices. At least it is more fun that trying to figure out what to do with my $1.40 corn a few years ago.....
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Today's Featured Article - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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