Question for Marketeye, or other AG members
Do you see any confirmation of increased farmer selling?
I say that, because at least here locally, there is a lot of corn moving out. There was a lot of corn that was binned at too high a moisture to keep in the bin, through spring. The farmers are sitting on a decision: whether to buy $5 propane to dry it down so it will keep past spring thaw, or sell it before it starts to turn. With the recent bounce in price, many are taking it as an opportunity to get rid of some corn while it is still in good condition. Our local grain elevators here use Natural Gas, so their drying fees are in some cases, less than what the farmer can dry it for, cost-wise.
I am wondering, is this just a 'local' problem (the wet corn in the bin) or is it widespread? If widespread, I can see it keeping a lid on prices, at least for the short term, until planting time.