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dan45mcc

U.S. farmers planted 19 percent more corn this year than last, topping a governm

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June 29 (Bloomberg) -- U.S. farmers planted 19 percent more corn this year than last, topping a government forecast in March, as they cut back on crops such as soybeans and wheat to take advantage of record demand for ethanol and animal feed.

 

Soybeans and wheat prices surged in Chicago. Growers planted 92.888 million acres with corn, 2.7 percent more than estimated in March and the most since 1944, the U.S. Department of Agriculture said. Soybeans were planted on 64.081 million acres, a 12-year low and 15 percent less than last year.

 

Corn prices as of yesterday had soared 59 percent in the past year, reaching a 10-year high in February, and soybeans were up 39 percent after jumping to a three-year high on June 18. The U.S. is the world's largest producer of both crops. Record demand for ethanol made from corn and record meat and poultry production have helped boost the price of corn.

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=agOyaHo5YeEw&refer=home

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Yesterday at the close of the CBOT corn was worth $3.20 here in Paullina. A few weeks ago it hit $4.08 here. Should have sold more for $4 instead of listening to the experts predicting $5/bushel. Now for the 64 dollar question, should I be selling for this fall delivery for over $3(have heard it will be $2.75 come harvest) or hope it comes back to closer to $4. :)

Marty

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Yesterday at the close of the CBOT corn was worth $3.20 here in Paullina. A few weeks ago it hit $4.08 here. Should have sold more for $4 instead of listening to the experts predicting $5/bushel. Now for the 64 dollar question, should I be selling for this fall delivery for over $3(have heard it will be $2.75 come harvest) or hope it comes back to closer to $4. :)

Marty

 

have a coin handy ? give it the old flip  :D

 

with the corn bloat personally I'd take the over $3

 

 

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