Posted 3/15/2016 05:52 (#5177008 - in reply to #5176959) Subject: RE: Fry, don't hurry to price new-crop corn if March futures hit $4
USA
Can buy a lot more machinery for the $ today than the 80s. $100 seed corn and $10 soybean seed isn't a budget breaker. As far as fertilizer, N needs to have another 25- 30% adjustment downwards from current pricing, DAP another 10-15% reduction.
Land cost will the ball and chain for those who have too high fixed cash flow costs. IMO those who rent the majority of the land they farm over the next five years will more than likely have less cash equity in five years than today vs those who own what they farm.
Appears to be a lot of can kickin down the road this year from folks who wrote a check in the past for chemicals- seed, that are using Farm Plan- Rabo-PHI to carry things till Dec- Jan.
As far as the mind altering drinks to numb the pain, being a teetotaler will be a better line of defense.
Fry, don't hurry to price new-crop corn if March futures hit $4
