I would not be a seller at these prices for physical,
I have got tall green corn with less than expected corn on the cob [2" of tip back in a lot of places, more than 50% of the cobs and in the same row, side by side] never seen it this bad, even with burnt up corn in a dry yr. [backyarditis???]
I also wonder what the usual frost scare will do to price
Seems like we always have one and this yr. price might be especially volitile
Frost would affect many of the corn acres that are supposed to bring the average up
And think what a frost would do to all those late planted beans
However, for now we just gotta take our lumps
Hopefully most got sold on old crop when prices spiked
If not, you might have one more kick at the can
Myself, I am waiting for this down side to exhaust itself, and then try to get long, before the frost scare
Strictly on spec
If the price does go up enough, I will add to N/C sales for next yr delivery, from our on farm bins
Bins are a great marketing tool, so long as one does not get married to corn in the bin
And just one more thing
I don't know if PP was in this report
That may have been a best guess of planted acres
Maybe somebody knows more about PP and the methology that USDA uses at this time of yr
I question if the methology works in a yr. like this or am I just not willing to believe what USDA reported
I would have said 166 plus, before the report came out and then thought the harvest results would have lowered that production number a bit more than previous estimates to maybe 165 and a bit less than 13.5. What do I know??? Seems like very little
