I don't have the exact prices they sold at, only a rough time period they made there sales. But yes, I remember them making sales in the early to late spring and very early summer time periods when corn prices were still under $6 dollars. In my area alot of guys got concerned because they were expecting a record corn production figure and then the drought hit and everything changed. But they made there sales in the under $6 range to even the $5.50 area. So yes, they were and still are hauling $5.50 corn they contracted with the ethanol plants, when at one time last year the ethanol plants were quoting well over $8 for DEC/2012 delivery. $8.25-$5.50= $2.75. Take that times say 100,000bu and a $275,000 variance. Ouch!!!!! Another way to look at it is a drought-reduced yield from 220bu down to 185bu*$5.50= $1,017.50 minus $400/acre in seed, chemicals, fertilizer, etc=$617.50/acre in rough profits before any land costs. So $500/acre in cash rent= $117.50/acre for a rough net acre profit after cash-rent. Still a profit, but if you sold at $8+, the rough net profit would then be $626.25/acre. $626.25- $117.50= $508.75. A pretty large difference in profit per acre I would say, but very few guys hit a home run with there marketing.
