Currently the markets are as volatile as producers are concerned about planting and weather. Here in the Lafayette, Ind., area we are wet looking forward to the 70’s this weekend only to go back to the 50’s by Monday with a chance of frost. For many producers the ground is still too cold but I just heard from a producer in Kentucky who is planting corn today. We all know the corn crop will get planted and not unless we see a weather event this summer, carryover will more than likely end up above 1.6 billion with a chance to increase rather than decrease implying carry will come back into the market. Look to using the spreads in order to capture carry and enhance revenue. The Monday crop progress report will begin to report corn plantings and in our opinion show approximately 5% complete.
This week we saw a 19 cent move in December corn with the low at $4.98 and the high coming in at $5.17. It may be difficult for December 2014 corn to move above $5.17 unless we see continued strong exports or delayed plantings.
If anyone feels they need to put structure into their risk management decision-making and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We will also try to answer questions in upcoming blogs and we welcome emails to [email protected] or [email protected].
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