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Northeast Louisiana | I just sold 10,000 bushels of Dec '08 corn on Friday for $4.00 - .10 basis, and may sell some more before the March 30 crop report. I understand there is some risk associated with selling corn that far ahead, but I farm my own land, which is irrigated and paid for, and have my own storage, so I'm not going anywhere. Many folks, me included, doubt that corn will stay in the $4.00 range for 2 or 3 years. The chicken companies (Tyson, et al.) have a lot more political clout than grain farmers, and Bush has already been to Brazil encouraging ethanol production. That 55 cent a gallon tariff can be gotten rid of at any time.
My thinking is that a fellow shouldn't go broke growing $4.00 corn, and if inputs go up that much, it will put others out before it does me.
If corn goes to $6.00, I have plenty unsold to play with.
Just my 2 cents, which isn't worth anything.
Edited by Deadduck 3/24/2007 15:09
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'08, '09, '10 corn markets
