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| A lot of additional corn acres went in on some very high yielding ground as continuous corn, which will pump out a lot of corn this fall. My opinion is that we will likely come up shorter on beans as a lot of the higher yielding bean acres are in corn. And the more marginal ground stayed as beans dragging back the yield, but I think the early July bean prices drew a lot of double crop beans, which may add a few bushel. Sounds like Australia has double the wheat crop they had last year so when that starts coming out of the field I'd expect some steam to come out of the wheat market. A rally on corn, I wouldn't wait around to long seeing if it will happen, beans would be more likely, especially December and early next year as Brazil's crops fate is still being realized. Wheat is anyone's guess, but inputs are definitely going to be higher.
Eddie | |
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The Great Wheat Holdup of 07.
