If you have corn sold you need to call me to schedule deliveries.
We can only estimate production at this time and try to match our corn purchases with our expected sales. With everyone having 20% more corn to sell it makes it hard to buy it all. Last year $3.60 and above was in the upper part of the market except for the freak rally we had in June due to dry weather forecasts. There are two main questions to be answered. USDA kept US stocks steady in the April report and raised world stocks of both corn and beans. This should make it difficult to get much of a rally until we see final planted corn acres and summer weather. Take advantage of any rallies and don't forget we still have a 2.3 billion bushel carryout hanging over our heads.
Keep an eye on new crop corn as it does offer some better prices than we are seeing on the 2016 crop. If this market continues to trade higher this month locking in some new crop might be a good place to start.
The one thing everyone needs to realize is that the carryout is larger than last year so at some point we will have our needs met and be scheduling out for an extended period if we are even buying corn. Not trying to scare anyone but just being honest. Best thing you can do is lock in basis and wait to see if futures perk up.
Click on the "Cash Bids" link below to see our current cash prices.