$4.00 cash corn is possible with our new premium offer program. Give me a call to discuss the chance to add a premium to your old crop corn sale.
We dropped our trading range down about 10 cents over the last couple of weeks. The range is fairly tight from $3.70 to $3.85. As the range tightens, you have to watch for a breakout and I'm concerned it might not be in the direction that producers want. The trade knows there is 1.827 billion of corn to find a home yet. I still recommend offers as we will move quickly if we do trade outside of this range.
This market is acting just like 2009 when we peaked in January and dropped 50 cents. Then during February we rallied 20 cents or so before dropping off into the summer. I look for cuts in ethanol to come at some point and that won't help the cause. Overall we are still dealing with a large carryout and I think that will hang over our head for the rest of the marketing year. Get those offers in because we may not get very long to price this corn and there will be alot tripped when and if futures get to that $4.00 level. Be one your toes.
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