Don't know that they were predicting $2.50 corn or $5 beans,but corn was over $6 yesterday and beans closed at near 13.75. A few weeks ago I'd heard that about $1.50 of the current corn price is purely speculative money from fund traders.
I think we'll see a "new normal",but at best,in my never to be humble opinion,were looking at longterm corn $4-4.50,$9-9.50 beans,cotton in the $90 range. Oil was gonna keep going to $200 and beyond when it was at $147 too wasn't it?
The only way for raw commodity prices to stay nosebleed high is for the products that they are used for are profitable when those comodities go in to them. Pretty tough to put corn and beans in to something and come out profitable at these prices.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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