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South Central Iowa | September 2009 we hit a low of $3.02, failing to penetrate $3.00 and push against the low from December 2008 of $2.90..... By January 2010 we were trading $4.50 on the board. We would pullback under $4.00 during the early growing season 2010, put in a low of $3.43 around July 1, 2010; a long-term run would reach a pinnacle at the close of August, 2011 at $7.79.
None of those years say 2012, but that is what it was built on.
Not one year; but three prior years of inadequate production and massively growing consumption. We will not have a 2012 but could have a 2010 where hit $6.05 by November from that low of $3.43.
A far more interesting note when I was looking into the past charts:
THE LAST TIME CORN DID NOT REACH $4.00 ON THE BOARD AT SOME POINT IN THE SUMMER?---------------------------THE 2006 GROWING SEASON!
So think of that as the market dips in corn, maybe look at July or September or December 2017 futures and remember the above statement.
Edited by Conan the Farmer 12/3/2016 16:20
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Refresh my memory on corn prices
