Guys think that the corn market price is determined by the US crop and usage. Many look around their area and think that will be a good indicator of the fall price. They do not see a large enough area to be very accurate.
The run up in the corn price started 3 years ago when Russia had a short black wheat crop. They told everyone in late Aug. early Sept. that they would not be exporting any wheat. That and the fact that there where some weather shortages in other parts of the world made the World wide supply of feed grade starch low. So Corn being a feed grade starch, it started a run upward in price.
I was hauling corn for a neighbor in July of 2010 to the local ethanol plant. He was getting #3.42 cash for it.
Old saying on grain price cycles: "You hope to make enough profit on the up swing to cover your loses on the down swing"
There are guys that drove cash rents from $180 per acre to over $400 for the same ground. Seed Corn went from costing $50 per acre to $100. There will be landlords that will not get their rent money in the near future. Corn prices do not have to hit $2 for the fun to begin this time around. The current $4-5 corn takes the fun out of it for most of the high rent guys.
With a big crop we could easily see corn in the $3-4$ range real easy.
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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