Just the math of it would suggest 5.75 early next year. Much like last year, it seems we rally tight through a c & s huge harvest. Only makes sense when you remember that the specs buy and sell multiples of the real bushels most every day, thus money flow determines price, nothing new there, Palouse has talked about it for years.
This thing is setting up to be real tough for a farmer to manage, his price protection is going away in 23 days, AND, price might be far enough off the lows, to set-up some real gut checking moments after November 1st. Unintended consequence of government subsidies I suppose.
