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Ontario | Saw that on the CTV news as well, Redoak. Like you say, doubt they really understand what they are reporting!
I would say $8 was about the absolute high in Ont. Last yr. Don't know if many bu got sold for that price. Never got any at $8! More got sold in the $7's, as the basis always seems to be worse in Ont. vs the US.
So the 30% drop is relative, and depends what high price the source provided CTV.
Good chunk also probably got sold in the $5's. Can remember being told around April 2012, any farmers who didn't forward sell, missed the boat on pricing for the 2012 crop!
I agree, once corn issues hit the media... one way or another, the high or low is getting closer!
Lets hope we get this promised warm-up starting on the weekend. I can handle somewhat lower prices better than low test weight, immature, or 40% moisture corn! (Which is a possibility if warmer temps don't arrive soon!) | |
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feed for the bulls
