For corn, a significant rally will be difficult with the amount of unpriced old crop and another good growing year. End users tell me any board rallies will continue to shake some bushels loose. Many unpriced farmers continue to wait, because they don’t have an exit strategy.
Some farmers (who don’t have marketing plans) asked me recently what I would do if I were them. Most are shocked when I suggest forgetting about their 2014 crop, and instead focus on 2015 and 2016. Farmers can still get premiums in the market if they shift their focus more long-term. The 2014 crop has no real story left, and by continuing to ONLY focus on it they are giving away profits and potential on 2015 and beyond. Too many farmers focus short-term without looking forward. Savvy farmers are planning years in advance.
Informa reported more bean acres than the USDA.… Continue readingRead More »