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Fontanelle, IA | Palmtopper- I am thinking the board price for most of us Cowboys would have to be north of $4.75. We are all betting on the "come". The market isn't signaling any concern for our wet forecast with finally hitting $4.00 Cz today. Maybe... come Monday's crop progress report but I am thinking the trade will be "impressed" with how many acres were planted in the few "workable" days this week.
I think the other thing in the back of my mind is Cashflows.... There are many of us that sell soybeans off the combine to generate cash with the intent of storing corn. Beans aren't dollaring up at current prices which puts more strain on corn and advance corn marketing to offset. Unless a person was aggressive about 1 year ago for this cz19 crop, there really hasn't been a "lucrative" opportunity to sell corn for most folks with "average" costs of production. This, to me, means that corn (or added acres of corn) will have to pay their way using harvest prices. Price better go parabolic and soon because the yield component in the revenue equation becomes more uncertain.
This is just me. Thanks for starting a great thread!
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Late plant
