Planting has been delayed for much of April due to cold temperatures and snow. It seems as though Mother Nature is finally shaking the winter blues and is looking ahead to the rest of spring and into summer.
Much of farming is a wait-and-see game when it comes to weather, crop prices, demand, China, South America, trade and many other factors. Now that summer finally appears to be on the way, many are wondering what the weather will be.
“Let’s say the bulls are absolutely right—it goes from cold, wet to 2012 and that hot and dry, very bullish outlook occurs and we see $4.50 to $6 corn in mid-July or early August,” said Bob Utterback, founder of Utterback Marketing on AgDay. “What are you going to do about it?”
He said if December corn would reach $4.50 or above in the summer, the odds are high that there will be more corn acres back in production. Looking at the bigger picture, if demand weakens the outlook might not be as promising as it once was.
Hear what Utterback suggests to sell $4.50 corn if the opportunity arises on AgDay above.