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glenlivet18
Veteran Contributor

$8 corn futures watch

September is getting up there.  794 right now.  Are we going to see it tonight?

 

I always wanted to hold a corn futures contract the first time it hits $8, just to say I was there, but I don't think that's going to happen because I'm trading December and that's a few cents behind.  I could buy a September but the novelty of it is not really worth the risk. 

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5 Replies
Buckley_HF
Senior Contributor

Re: $8 corn futures watch

I really don't know sqwat seeing how I was only 3 years old during the summer of '88 but I truly can appreciate the history being made this year. Always heard stories from dad and gpa about drought years, 88 in particular, and the last 2 haven't been fun, but this summer is unprecedented in my mind. If we see a lead contract reach 8$ on the board it's something for the scrapbooks. Only been back farming 5 years and have seen last 2 years with 8$ cash corn sales, today being the 2nd. I fear what this type of situation will set AG up for in the next 5 years. Id take 200 bu at 5$ over 125 at 8$ any day of the week. Hope to not see 3 anytime soon. Said it before and will say it again, history in the making.
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roarintiger1
Honored Advisor

Re: $8 corn futures watch

Got right up there to $7.94 again today and stopped......looks like the resistance mark to me.      But only until the next crop ratings come out.

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roarintiger1
Honored Advisor

Re: $8 corn futures watch

Oops....now past $7.94.........

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jrsiajdranch
Veteran Advisor

Re: $8 corn futures watch

Well we hit 8 this morning.by my ticker.

 

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glenlivet18
Veteran Contributor

Re: $8 corn futures watch

Kind of ironic that it happened in the middle of the night.  I always thought it would happen during pit hours.

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