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S Illinois | Dec 2019 corn rallied a dollar from mid-May to mid-June. The US didn’t get half planted on corn until May 20th. We are also $3 above where price peaked that year currently and $1.50 above crop insurance. Don’t underestimate the amount of acres that will be planted.
Edit: The other and more important factor is who is going to buy to drive it higher. Funds are near record long. Current price has a lot of those possibilities already baked in. End users by themselves would have difficultly driving price much higher as their profits are eroded. Even in the worst case scenario, the US will have 11+ billion bu that the market has to absorb.
Edited by w1891 4/29/2022 09:53
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