I got a hunch

[farmerguy89]

Nobodies ever seen $10 corn and I am not sure that we will. At that point its pretty toxic. Can't support demand at 7-8 bucks, let alone 10.

[c-x-1]

Can't support demand @ 7-8 bucks?....where did you get that notion?...seems like most producers on here have said/are continuing to say users are calling like never before looking to secure needs.

[Farmerjoe79]

Cx you are right about that I was only 85 cents away from 10 dollar corn last August. So i don't get were people say that corn is not going to ten. The way it looks to me that just a hint of a weather scare this summer could get real interesting. The only insurance program I see is grain in your bins;)

[c-x-1]

Yeah,

Farmerjoe79 - next time they're calling you, tell 'em to call back end of May/beg Jun and you'll consider selling a few bu then.

[Farmerjoe79]

What is your predictions cx for corn say around that August range do you see the same thing I do.

[RWflier]

Joe, i don't think corn got much over 8.00 around here.  You must be in a area that's special. 

[sw363535]

So the wheat out west holds the futures price while the basis buys the HRW??  

And Ray,  in the example the ethanol price is protected by the futures contract.  So the only risk they stand is the local basis??

And therefore the corn would exist and the basis would be the least in the same areas.

Thanks for finishing the picture.

[Farmerjoe79]

O believe me I felt special:)

[Farmerjoe79]

And I hope I feel special again this summer:)

[c-x-1]

If Corn retests 825-850 area - guessing it will @ least attempt a breakout... If that is successful, not sure why 10 would provide much resistance.

Rule of 4 --765-848 area 3 times since 2008. 4th time's generally are not "tests"...but, if they are, it is generally ALL over.

hope this makes since.