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$7.50 corn and even higher.


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Yesterday's prices wheat (feed) and barley(feed)all pounds per metric ton 1000 kg or2200 lbs

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The only thing tougher then trying to predict the future would be having the job as sign language inturpetur for Biden. 

Markets like volatility.  Thats how the traders make their money.  I could say more but need to stop before I say something disrespectful. Thx-Ace 

Heck not sure if a bushel will buy a 2x4 .... Inflation, massive inflation is coming along with a crash  My opinion anyway

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Your right I remember them several years back when wheat go to a decent level they had suddenly underestimated stocks by 116%!!!!! Price crashed make while you can 

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1 hour ago, Lazy WP said:

We are going to see fence row to fence row farming again. Corn and beans are going to be sky high for long enough to get everyone in, then prices will crash! 
We will see a government bailout, again. 
There is no logical explanation for why the market is doing what it is, so I will guarantee that it is going to fall faster than it went up. I just don’t think I should have to bail out the guy who jumped in only to loose his azz!!

We already have fence row to fence row crops. China lost a lot of corn to flooding, South America has been extremely dry and much of the upper Midwest is as well. There is projected to very little or no carry out of corn and beans before harvest, although that’s never happened and I don’t see that coming to fruition. Ethanol production has ramped up, oil is stable in the $60-65 a barrel range and ethanol production has become more efficient and there is more ddg’s And co2 available for other markets now. These grain prices will hurt all livestock producers and I can only guess that top quality I state rent could go past $500/acre next year.

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2 hours ago, Lazy WP said:

We are going to see fence row to fence row farming again. Corn and beans are going to be sky high for long enough to get everyone in, then prices will crash! 
We will see a government bailout, again. 
There is no logical explanation for why the market is doing what it is, so I will guarantee that it is going to fall faster than it went up. I just don’t think I should have to bail out the guy who jumped in only to loose his azz!!

  I would not count on a bail out with this administration.  Prices will go back down by fall as they are counting on a normal crop unless we get a repeat of last year with a devastating storm.  There is logic in the current pricing as stocks are down drastically compared to normal carryover levels.  You also have a world customer in China that has an immediate need for soybeans to feed its swine herd so that competes for stocks that other end users here and elsewhere desire.  

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Prices are great for now but I except them to change. Up and down is what they do. 

Worldwide corn is tight and it's affecting everything else. Back in November or December the Argentine government banned the export of corn so they would not run out. Brazil had a drought. Their yields are off and low water levels has hampered barge shipments.

A decent us crop will help bring prices down. 

The biggest deterrent to high prices is high prices. 

Grain, meat, energy, metal, whatever. When prices get high we produce more and users reduce usage. Eventually we produce too much, over supply the market and prices tank. 

I would  book some grain if my production was reliable. Unfortunately I'm subject to flooding so I store some hoping for high prices when they are low.

The economists say farmers should sell at the market highs. If you can predict the market that well you should be a commodity trader, not a farmer!

Thx-Ace 

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2 hours ago, highcotton said:

USDA will manage to either find or lose a few million bushels in the June report and the market will magically “correct”. 

Much like the jobs report...

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3 hours ago, hobbyfarm said:

I think you guys are all right.  This is what gets people in trouble.  The potential for record profits then the market turning down later.  No doubt there will be more corn going in, rent pricing pushing up, and purchases that will cause issues later.  I would be all for the high prices if they are sustainable and don't crash.  I guess time will tell.

Disclaimer:  I am not a corn farmer.  Could be I guess but for what we are doing on limited acreage I don't know that it pencils out.  

So tell me please , ( and probably others) which one does pencil out? 
😀😀

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35 minutes ago, lorenzo said:

I locked in at  $7.54

 

we will see.

Good luck!! Enjoy the ride!! I am afraid what is going to happen. I have a feeling that there’s going to be some huge bankruptcy issues in the future. 
Disclaimer!! I was 19 years old when I got shoved into the farm financial fun, in 1983. Farming terrifies me!!

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Cleaning out a bin today, $7.56 for it. Too bad I don't have any more bins to clean out! 

I am concerned that as fast as it goes up, when will it come down and how fast?

If prices would stay like this long term, I am going to rethink about  feeding out cattle this fall.

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6 hours ago, bitty said:

Heck not sure if a bushel will buy a 2x4 .... Inflation, massive inflation is coming along with a crash 

My opinion anyway

Courtesy of the massive government spending on BOTH sides of the isle.

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50 minutes ago, Farmerboy72 said:

If prices would stay like this long term, I am going to rethink about  feeding out cattle this fall.

Yup, this is a setup for a mess of epic size..........

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https://www.agriculture.com/markets/newswire/surging-us-crop-prices-reverse-fortunes-in-rural-iowa

Saw this article a bit ago and just shook my head.  When some dipshit "farmer" bids almost $500 an acre to rent ground for a year that he never step foot on, while vacationing in Mexico the end is near.....

A "farming" magazine published this garbage too and thinks this all is well.  

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3 minutes ago, Cdfarabaugh said:

https://www.agriculture.com/markets/newswire/surging-us-crop-prices-reverse-fortunes-in-rural-iowa

Saw this article a bit ago and just shook my head.  When some dipshit "farmer" bids almost $500 an acre to rent ground for a year that he never step foot on, while vacationing in Mexico the end is near.....

A "farming" magazine published this garbage too and thinks this all is well.  

An 80 within three miles of me just went for 30,000 an acre . 

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4 hours ago, Farmerboy72 said:

Cleaning out a bin today, $7.56 for it. Too bad I don't have any more bins to clean out! 

I am concerned that as fast as it goes up, when will it come down and how fast?

If prices would stay like this long term, I am going to rethink about  feeding out cattle this fall.

I’m thinking, unless we all have a more than perfect year, and grow a massive crop country wide, it will take time to come down. 
I keep track of all my grain sales in a notebook, and not to long ago I looked back, I sold 1 load of corn in 2012 at $8.01.  I was still selling mid to low $7 corn in 2013, upper $6 in 2014.  So it might take a little while to fall below $4 again?!

But I’ve also been wrong before!!

 

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3 hours ago, TP from Central PA said:

Yup, this is a setup for a mess of epic size..........

No doubt!

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10 hours ago, Lazy WP said:

We are going to see fence row to fence row farming again. Corn and beans are going to be sky high for long enough to get everyone in, then prices will crash! 
We will see a government bailout, again. 
There is no logical explanation for why the market is doing what it is, so I will guarantee that it is going to fall faster than it went up. I just don’t think I should have to bail out the guy who jumped in only to loose his azz!!

I think its federal volitility. Markets like stability and we have none. Supply was way down now its up but prices havent followed. Add that to the weather and a puppet to radical commies for a president who cant even flawlessly read from a teleprompter and nobody has a clue how to place their bets as it were imo.

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So all this means cattle will be worth what in the fall? Next spring? Now?

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The only thing tougher then trying to predict the future would be having the job as sign language inturpetur for Biden. 

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6 hours ago, lorenzo said:

An 80 within three miles of me just went for 30,000 an acre . 

Lorenzo, surely they aren't farming that unless the buyer already had a bunch paid for.? I assume it is under a pivot. I've seen $12,500 1/4 mile from me. That was when corn was $8. 

I was offered a poor 80 a mile from me just the other day. He told me to make an offer. I'm afraid if I offered what it was worth the guy would probably never speak to me again. My guess is it will easily bring north of $10. And that is this month. Next month may be altogether different. I'd like to have it, but it will take a lot of work and $$ (mostly $$) to get it in shape. 

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Markets like volatility. 

Thats how the traders make their money. 

I could say more but need to stop before I say something disrespectful.

Thx-Ace 

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17 hours ago, Ihfan4life said:

https://iowalandsales.com/speakers/sue-martin/

Is this the Sue Martin that you mentioned ?

My read between the lines interpretation will be double digit inflation. $7.00 gas, and $6 for a gallon of milk, if you can get it.

Realistically I don’t see how you’re going to see $19 corn and $30 beans, but maybe it’s just my pessimistic opinion as of late🤯

 

I remember when soft white wheat was $15.00 guys were holding out for $21. they never saw it. Once most of the wheat was bought up Traders lost interest and price headed down.

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