Corn market is a mess. And has been for months. Demand worry. Ave yield times net of around 4.20 is not breakeven. Once Biden Incorp got the cost of production in some cases triple the historical costs, they have been too slow to moderate. Diesel at 4.00 to the farm leads an array of costs but the breath neck speed of land appreciation is just as costly. Missouri is called "Missery" by many as much of that state is difficult place to raise a good crop. But even there this summer a farm sold for 34000/acre.....imagine that 34000/a let me know when and how that mortgage will ever be paid off.
sorry MM pushed the wrong button but do not care if you move the post or not. Just depressed about corn and wanted to tell a bit of its story
Don't be sorry mcfarm, I accidentally have trading posts go to the NTR forum all the time.
We appreciate your comments, especially as a seasoned producer that has been around the grain markets for half a century.
McFarm
As a landlord, I am also disgusted with current corn prices, but, fortunately, this was our BEAN year.
There is a possibility that the daily and weekly cycle in corn will be triggered this week ( more likely next). Also look to December expiration on the 14th as another possible cycle area.
Despite my current pessimism, cycles (weather, bad?) suggest better prices in 2024. If possible, store and hold.
AS A TRADER, look to the softs for better, quicker positive action/results.
tjc, sir, thanks for the reply and market info. This corn market has had me by the tail and has had me since about Aug 1st. Your info was appreciated.
Transportation problems are killing the prices of grains.
McFarm
It appears corn may have put in its daily/weekly cycle low Nov 29. Look for gradual improvement.
As also suggested, look at cotton up limit, OJ up limit. CC may have topped. Look for SB to bottom. Believe KC and Lum to have more upward movement. (KC could explode, but I am usually early)
ok. One of those "premature" guys.....understand as we producers are always long and a good part of the time wrong
MemphisWeather.Net (MWN) - Lower Ohio/Mississippi River Forecast
maybe some hope for basis improvement longer term?