Posted by John_PA on June 29, 2013 at 19:22:54 from (72.95.163.62):
In Reply to: crop futures today posted by tractormiallis on June 28, 2013 at 19:50:59:
The problem with such a fall in prices in one year is that the input costs are still out of sight, from the profit takers selling seed and fertilizer at inflated rates, let alone an inability to control fuel prices.
It's all supply and demand. Unless we see a huge spike in demand, the supply is going to keep the prices low. If they announce the reopening of a few of those ethanol plants, and we start a serious exporting campaign, then the price has a chance to rebound. The moral of the story... We did it to ourselves. I mean, I don't do many acres, but the ones I do, I could have put into soybeans, or oats and then winter wheat.
However, it is not just corn that is taking a dive. It is all commodities and some for really dumb reasons. Well, what I call really dumb.
My example? Wheat...
Wheat took a huge plunge because a farmer found round-up ready wheat in his field. That one field just cost all wheat farmers a lot of money. As if things were not bad enough...
So, no matter what I plant, it is not going to be worth much. Last July, people were talking about $10 corn and $20 beans because of the severe drought. This year, people are talking about $3 corn and $9 beans. I never saw $10 corn and I am really hoping the $3 corn is also an exaggeration.
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