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WC MN | Depends on the mentality of the region/farmer. "Here" I know a lot of guys that contracted this spring for fear of the bottom dropping out. They were short a crop from last year and prices where not as good this spring. They sold what they could to make sure they broke even... Sort of a survival mode. South of "here" a few miles, I know of quite a few guys who are sitting on some of 2010 and 2011 waiting for $9. Some of those guys sold a lot of 2010 this year for $8 cash. Those guys are not what I would call flush with cash but made enough good sales to be sitting ok and not worry about the bottoms. Let's be honest, if you own your land, have your equipment and land paid for and have an aph of 190. $8 corn was like "winning the lottery" in some cases. Add to that guys that are running beets and now you know why rent is close to $700/acre. Yes, I heard that number last weekend south of Renville. 15 years ago that's what an ACRE COST here.
Myself, I am somewhere in the middle. We are 90% sold on corn and 85% on beans. We had some puts we liquidated today but wish were more sold on what's in the bin. We are very happy with what we sold. Just wish it was more :) | |
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Does a lower price increase farmer selling
