The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Bob Utterback has more than 26 years of experience and offers producers a disciplined approach to marketing.
Hope doesn't work! It has yet to work for the first month of Obama's administration...
I think you are right on! I do feel we could see some excitement in the wheat pit and that should drag corn up. I see a lot of hay coming to the auctions in Illinois. Maybe we did not tear up as much of that hay groudn for 8 buck corn as we earlier thought. I did start selling corn and beans higher last month than I did a year ago. NOT MUCH, just a dribble!
There has been an opportunity to sell March 2010 corn on an HTA at a profit up until this week. I look for corn to trade to $2.20 as unpriced 2008 inventory depresses late summer prices as producers panic sell. Possibly we may qualify for an LDP this harvest season on corn. I would expect our federal government to make three more bailouts totaling about $5 trillion. This would be in addition to the fed printing and creating money night and day. I think the final bailout will finally acheive partisan unity as our government acts with a final massive stimulus program to save the country from collapse. Sometime, during the late summer of 2010, I would expect inflation to become fairly rampant and commodities to go crazy! Support your country and its people at all times, now.