Corn and Soybean Prices Reach All-Time Highs

[AnnaGiannini]

"September corn traded to new all time highs this week for any corn contract when it made a high at 8.28 ¾ on Friday. This surpassed the previous highest trade ever when the July 2009 corn contract traded to $8.26 in the summer of 2008."

Check out the markets center for more information.

Listen to AgWeb Radio to find out just how high prices went and why.

Ready, Set, Discuss.

[davidm479]

Anna as the oll saying goes YOU AINT SEEN NOTHING YET ------nice avatar------------------------------------dave

[IA CORN FARMER]

Yes, all time highs, but we need some corn to sell at these prices to take advantage of these record high prices!!!!!

As mentioned, I posted on the Marketing thread the extreme heat that will be coming to Iowa on Monday, 100 to 110 degree temperatures and a 0% chance of rain. We/I have just been hanging in there on a very little thread here in North-Central Iowa. I have extremely heavy soil of mostly Nicollent Loam with a CSR rating of 90+, so this has done a much better job of keeping moisture than I thought it would do. So we have been lucky so far, but we are now out of any sub-soil moisture completely and the coming 100 to 110 degree temps will pretty much cook what we currently have in the fields. I believe this is much worse than the 1988 drought, and here in Iowa with the high population planting rates we have been going to has compounded the drought issue. So guess we are partially to blame because the corn water needs are probably 33% higher today per acre than 1988. Anyway, I have already entered a 35% corn yield decrease into my compute's farm software. I am even getting worried that it will be higher, 35% corn yield decrease is what I suffered in 1988. However, since most of us are in the same boat here, I would say Anne that if AGWEB is feeling sorry for us, you could send us all a case of beer to help handle this coming 100 to 110 heat wave. Let us know if AGWEB can handle sending every poster on here a case of beer.

[db51]

Look out BELOW.....Time for a BLOW OFF TOP.

[RowCropRenegade]

Racing to the bottom of the corn bins around here....Pretty sure we are going to have some to sell once we get there. Add .50 nongmo premium= almost 9.00!!!!

[db51]

I had 40K contracted for fall delivery non-gmo March planted corn. NOne to Deliver Was an AOG contract and hadn't been priced either. Sucks to be me.

[SIllinoisfarmer]

Db Please clarify what you mean by "Look out BELOW.....Time for a BLOW OFF TOP." Are you being facetious and think that prices will continue to raise as we face a very real shortage of commodities of the kind we have not seen since the 1930's. Or a you thinking that they will never let the HPO get that high as the insurance companies would be screaming louder than Rosanne Barr in a size 2 dress?

[glowplug]

Eventually we're gonna hit the top here. The end users are already squeeling much worse than fat lady moochelle can sign.

GP

[IA CORN FARMER]

I had 40K contracted for fall delivery non-gmo March planted corn. NOne to Deliver Was an AOG contract and hadn't been priced either. Sucks to be me.

Are you serious????? 40,000 bushels????????????? My God DB, what got into you?????