Corn Price Hits $1-ish area

[marketeye]

Hold onto your hats!

Lemmon, South Dakota corn bid reported at $1.98. Holy frankenights! Cash corn bids in your area are __________?

Mike

[jennys_mn]

Ugly, just plain ugly.

Jen

[marketeye]

jennys_mn,

The only thing worse is if you actually have to let crop go at that price range.

Mike

[roarintiger1]

This license to steal needs to be taken away.

[jennys_mn]

When I worked at the elevator a couple of years ago, it really surprised me the number of farmers that simply sold the crop to the elevator when they harvested it. I would've thought that they would at least put it into storage for a little bit, to hopefully catch a post harvest bounce. But many simply took what was offered off the combine.

What really still gets my goat was the basis figures from the Dakotas amd Central WI. None of the crop where my farm was went to the "river", yet basis was figured to the river for transportation. None of the local corn left the area - it all went into the dairy industry over there. The Dakotas are even worse. I have to agree with some of the other posters here - it's like stealing the farmers grain. I wish I had an answer. I don't. But I sure wish I did.

Jen

[Hobbyfarmer]

Anybody look up where that is? 

That is the fringe area's fringe area.

Kinda hate to do his but...$1.98 is still twice what the headline reads.

[Hobbyfarmer]

The price is in the$2.40 range in NW Kansas and they have E plants and cattle feeders. 

The cash price of corn closed at $2.67 here and we have hogs and chickens and E plants and rail and the Mississippi and Missouri rivers to get rid of the stuff.'

I think their price is holding up real good....

[gurly3801539]

Far SW MN 2.65 cash----2.71 October.  WE have pigs and alcohol in the area.

[elcheapo]

Corn. Old crop. 254 to 266
New crop. 246 to 251

Soybeans. Old. Crop. 853 to 868
New crop. 838 to 853

[marketeye]

Looks like the buyers want it now vs. later?

Mike