Conventional wisdom tells market-watchers that the corn market normally sees a $1.00 summer rally and soybeans receives a $2.00 bump. This year, there are a lot of "ifs" being thrown around. If a drought-stressed Midwest crop doesn't get much-needed rainfall, the current corn and soybean futures prices are not high enough, analysts say. However, if the rains come in the next few weeks and offer some relief, the current market prices will be seen as too high.
In Agriculture.com's Marketing Talk section, this week's discussion has centered around crop-weather and market angst. "If the market really wants the corn that is left now, it needs to up the antee to get at it...$7.00+ cash prices would probably empty the last few bins," rusureofit says.
"I wouldn't be so sure that thousands and thousands of farmers have corn left in their bins.....Many that I know have cleaned things out a long time ago......those bin augers rattle pretty loud when they are empty," roarintiger1 says.
On the flip-side, market advisors want their farmer-customers to get protection for their crops by creating a marketing plan. The discussion revolves around what should be in that plan.
