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So when will the corn market peak for 19?
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SWMustang
Posted 5/24/2019 10:07 (#7517691 - in reply to #7517588)
Subject: RE: So when will the corn market peak for 19?


SW MN
I think the market will continue this slow uphill climb probably until mid to late June to try and force more corn planting. At that time, the market will take a break, re-evaluate planting and stocks, if we didn't get enough corn planted (no idea what the number needs to be) they will start to go into rationing mode to make sure we have ample carryout to get through until the next crop comes. This doesn't mean $8 corn, but it might be $5-6, or high enough to shut off exports, and curb ethanol and feed demand. If the market feels enough corn got planted, it will go back to a range bound market until a weather issues arises (cool temps in July/August, too much rain, not enough) before it needs to ration. I don't think 176 is even remotely possible. Conditions of corn planted in many places was less than ideal. I think that those in ND and SD are going to probably take PP starting on Saturday if they can. It's wet, and there isn't looking to be much relief in the rain until mid week next week for us in the area.

Just my humble opinion. I think taking the PP may be the best option for some of these northern states. Who knows when we will get a frost. We will effectively be down to about 90-120 days to get a crop to maturity before a normal frost date. I could see mother nature tossing us a Labor Day frost just to rub salt in a wound :(
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