uptrend on Corn and Soybeans seems to be intact, and if this week closes with positive moves for the week I think we are going to see some much better prices in the coming months.
I swing from side to side as the news comes in, but one thing I am starting to sense is that there is really not that much corn out there that has not already been priced (old crop). New crop contracts are not yet rising all that much which I think is due to the fact that those that already sold the 2022 crop are able to sell the 2023 crop that has not yet been grown. Not making a judgement as to whether that is good or bad, but it does depress the market until it doesn't.
Not saying what this market tops out at, but if you are still in the game, maybe move your price targets up a bit, and use both a much higher target price, as well as a date to wave the white surrender flag. Last year, I did not have a good handle on how many bushels I actually had, with carry over , and lots of small bins, and my best sales came in late July and early August when one enduser called up , asked how much I could sell, and gave me the $8.25 I had told them earlier. That was the magic number last year, and my high sale. There was nothing scientific about the $8.25 either...it was just the number I needed to balance out the $5.15 forward contracted corn so that I could average $7.
