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December 25, 2010

Corn blew through $5.00/bu. the week of September 11 amid rumors of a declining corn crop in the Midwest. Also, outside money from the oil market was coming into the market and taking corn prices higher with the anticipation that $6.00/bu. corn would curb demand.
It hasn’t happened yet.
 
Jerry Gulke called the shot. And he was right on with his prediction that USDA could release a surprise on corn acres for the June 30 Planted Acreage Report. And it delivered as planted acres came in nearly 1.5 million acres fewer than the trade anticipated. It was also the first indication that we could see significant trouble with supply as we entered the 2010-11 marketing year.  The reaction to this report hit number on our list this year.
 
Corn demand and lower-than-expected yields continue to push corn prices higher on the September 24 Weekend Market Report. Couple these two factors together and the market outlook is extremely bright. As we have learned through this year, those expectations are coming to fruition as news for potentially higher markets is released almost daily.
 
Land in Northwest Iowa is habitually kept in families for generations. When a farm comes available, rest assured it’s big news. And big news was made in November as an 80-acre farm was sold for $13,950/acre. "While this may raise some eyebrows and lead some to believe new levels of farmland prices are about to be established, it’s best to look at the area and understand it’s history," writes Landowner Editor Mike Walsten.
 
On November 10, Steve Cornett wrote about one of the largest cattle buyers in the country going into receivership. This was one of the first reports on this remarkable news for the beef industry. All told, $87 million in bad checks were floating around the country and it is a story that is still developing.
 

  

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