We are currently buying for April, May, August and September. At this time we have suspended the price later program due to the amount of corn producers have sold. Call to schedule delivery of your priced bushels.
As the market moves to higher highs we continue to fill up on contracted corn. 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. The funds are buying commodities right now but once they get their fill it is hard to tell if we will continue to hold these levels. There are two main questions to be answered. How much second crop corn does South America produce and how many acres get planted to corn in the US. By the time we know the answers to both of those questions it may be to late.
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.