I would really agree with you when you say the pendulum was swinging too far to one side. I also think we might be setting up a trading range right in the area you said. Cash corn in our area has been from about $2.80 for a low to around $3.50 for a high for about a year and a half already so it seems like we already have somewhat of a trading range for cash corn and we will need a weather event to change that. I should of checked the stocks numbers before I mentioned that but it makes me feel a little better knowing the projections where larger at that time then they are now. I understand Jon say that we are using more ethanol but I really don't think that will continue for the whole year as a lot of plants are running in the red and I think it is possible that we have very good quality corn this year and the yields in the plants could be a little higher and they are producing more ethanol per bushel of corn. We also need to export ethanol and low crude prices will not help our ethanol exports. |