Posted 9/6/2014 11:31 (#4058878 - in reply to #4058758) Subject: RE: do you think corn will be $3.00
Mascoutah, Illinois
I have to believe corn and soybean acres could be higher in 2015. The cool weather has put harvest behind by a couple of weeks along with the excessive moisture. The guys possibly wanting to plant wheat this fall may be shut out of this option with the late harvest and it possibly being too wet to get it sowed. If this is the historical repeat of 2009, the St. Louis area saw 12-13 inches of rain in October making it one of the toughest harvests.
On a side note, one can look back at the historical years of 1994 and 2009 and how weather patterns shifted in the following crop year offering some better pricing opportunities.
I would have used 2004-2005 in my example also but what Hurricane Katrina did to basis levels and infrastructure right in front of the 2005 harvest makes this situation a rather unique one.
If we have another big year for production in 2015, the guys not owning a sizeable portion of their land will find the future rather difficult to navigate going forward.
$3 corn and prospective planted acres, the driver.
