LOL Nodaddy that is a damn good question ! Welcome to the Big Casino . The fundamentals realy haven't changed much , we were short cae over , and this crop is going to be below tread , there was is alot of wheat being used . But with the corn comeing down a buck or more are we rationing corn ? This drop in price will give the end user some breathing room and what will they do ? they will jump in as you are thinking and buy up a bunch of corn .
Here's the real problem , the world econ. is a F"ed up mess , we don't know what is going to happen across the pond and everybody is holding on to there money .
They keep talking about yields comeing in better that they thought , in some ways around here that's true , corn that we thought would yield 100 or less is comeing in at 130 but that is still pretty poor .
I have not started here it keeps raining ---------- NOW ! that it's time to get started .
But to tell you it's time to buy -------------- Who knows , All I can say is will this price of corn work for you ? yes the lower the better but if it heads back up we all know that dog won't hunt .
Watch the Sunday over night markets and see what is going on , I think it still may go down some BUT one day they will wake up and it will head back up , maybe not to the highs but would say 7 is not out of the question . Good luck , Ken
nodaddy, you are asking the WRONG question. The question you are asking is "is corn at it's low"......hell nobody knows right now. What you need to ask yourself is "does this price of corn work for me"..........FWIW, I am a firm believer in incremental marketing and doing both sides of the equation.
BTW I had to go get some calf feed Friday after work (8:00 pm or so) and the elevator was still open, and open till midnight. Big elevator, big grinders/mixers doing nothing but grinding feed (for dairies mostly). They grind feed from 5am to midnight 5 days a week, and plenty of people run out on weekends so they come in for that as well. I think it was 48 who acted as if nobody buys their feed.......ya, right. I should have asked how many ton of corn they go through in a day or week.
Hey Ken, I did nothing yet. Should I be? Elevator guru said he thinks it will go to $6 and then bounce back. What do you think?
Well Nd if I knew the answer I won't be farming that's for damn sure , lol As far as the guru , that works both ways , they said corn would go to 10 bucks --LMAO just work the numbers and see what works for you guy's . Ken