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Northeast Louisiana | Large number of acres in March 30 report. Even if some of these don't get planted, there is a potential for a lot of corn. Most of the funds and other end users bought corn over the winter to hedge against possible shortages in the 2007 crop. Now that the intentions are out, the buyers feel like there will be enough corn grown this year to meet demand. That can all change if poor planting conditions continue in the midwest, or if a late freeze threatens corn in the corn belt, or if a major drought hits.
While the South will contribute to the the large corn crop, a freeze disaster in AR or TN doesn't move the market nearly as much as conditions in the "I" states.
Just hang on, there will be opportunities to sell, just don't get greedy and wait too long, because if we do produce this crop, prices and basis will be bad this fall.
Just my 2 cents, which probably isn't worth that much.
Keith | |
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Freeze Dried Markets ?
