$4 corn and $10 soybeans
How many prayed for those numbers a few weeks ago? I know a good friend was in my office about four weeks ago, asking if I thought $3.50 corn was possible again.
Fast forward a month, we saw $4 and $10 come and go. Hope most people got caught up on sales.
Re: $4 corn and $10 soybeans
This has been a case of wanting "$3.50...$4.00...ect " but when you get the circumstances to achieve those prices you get reluctant to sell. NIA and SMN have a good crop coming, it appears, but as nice of a rally as it`s been it`s still red ink for many.
I haven`t sold new crop and it`s not because I`m greedy, it`s because even with this rally it isn`t enough to stick my neck out and sign a contract. I could be wrong, but I think the downside is limited (we might have a white knuckle retracement) but the trend is our friend. I will make the enduser this deal, if I get across the finish line with this crop and they have $4 corn and $10 beans, I will sell all but my needed feed supply off the combine. It`s just "$4 and $10" isn`t enough to sign a commitment in blood that I will absolutely deliver those bushels. If they want my commitment they`ll have to pay or i`ll just let it ride and take my chances.