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NW Indiana | Sat has a target of $6 beans. I personally think we are at a different price plateau and really feel it will be difficult to take out the 2009 lows. I think supply would fall off a cliff if we achieved those levels. I personally wouldn't consider planting a bean. I was a bit surprised to hear some bears are thinking that low. If there is enough of them out there maybe we really do go back and take out this summers low. With fertilizer prices up and on the rise, lack of fall work maybe it will take a corn/bean ratio of 2.1-2.2 to get the acreage where it is likely needed. In order for that ratio to get to that point old crop bean prices would likely look really ugly. I'm personally more optimistic than this but it is the sum of all the participants that make the market. | |
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