Mike M, is that $53 for corn on soybeans, or corn on corn? I would think that $53 bucks could quickly vanish when figuring the extra costs for corn on corn. Figured last year's cost of production....that was an eye opener.
Question for all...
What is greed?
Waiting for the market to give you more when carryout is tight?
Farming 1000, 2000, 3000, 5000 or more acres?
Endusers having bought a majority of the corn needs for the year in the sub four dollar range, and now saying "we need to cut ethanol production"?
Farming is business. What I do with marketing isn't going to matter a mill-a-spec in the big picture. If I was a better businessman, I would have bought land five years ago.
FWIW, Ray had a post on another site, that explained any change in the ethanol mandate requires a a certain time line, which would take a matter of months and include a public comment period. Another thought. Basis on ethanol is basically zero. Basis on gasoline is running plus 50 cents or better. So what do you think that basis and futures price of gasoline would do if you cut ethanol? And, just because the US cuts ethanol, what is to say that other countries, when the corn price declines and gasoline spikes, would not quickly purchase either the ethanol or the corn to make the ethanol? We are in a global economy. It is a new ball game.
I hold because the market tells me to hold. I don't think anyone will take it too bad if I am wrong and take alot less than today's price. The better job I do, the more I can pay my landlords, so it is a share the wealth thing. If I can't pay enough rent, they are some guys that will gladly farm the ground in my place. Been farming along time, these good years are few and far between. Costs are going up and up: those greedy suppliers....
