All eyes on the crude oil market
We are burning a little extra crude oil in Minnesoat this AM, where it is 5 degrees F with a -12 windchill. In the overnight markets crude oil has turned lower. Watch and if crude prices continue to slide - look for corn values to set back as well. It appeas that the crop size has stablized or started to improve in South America, so even with the long term uptrend - still in place we are likely to be in a trading range until the February crop report. I am still looking for reports on how much more fertilizer will cost for the 2012 crop compared to this years costs? If you farm in Illinois get ready for some Minnesota weather.