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| This projection was done on Aug 21. On that day, Dec corn closed at about 8.39. Harvest was going by then and I bet most locations had a positive basis in IL. This data is specific to IL and the one example everyone is talking about specifically lists high productivity farmland in central IL. I wouldn't expect it to apply to Minnesota.
BTW, December corn traded at or above $8 every day from July 30-Sep 10. | |
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