Jim. I have a feeling grain prices are going to continue to drop. Fuel has gone down and looks like it will go down some more slowly. Here in central KY our corn and bean crop looks to be the best I have seen in the last 15 years. From what I have been told it is the same across the corn belt. Great weather, plenty of rain and not too hot. Add to the fact that everyone that had open ground planted corn and beans we are way over on production. The ethanol plants can't possibly process it all, nor can the soybean biofuel plants, there just aren't enough of them and not enough total capacity.
Farming reminds me of when I use to trap. Coon prices would rocket up over $20 a pelt due to a shortage and the next season every trapper would go out and hammer the coon. When it came time to sell them the price was $10 or less. Everyone would grumble and think they were getting ripped off. They weren't it was simple supply and demand. I learned real quickly when coon prices went up, go trap something else.
Anthony
Farming reminds me of when I use to trap. Coon prices would rocket up over $20 a pelt due to a shortage and the next season every trapper would go out and hammer the coon. When it came time to sell them the price was $10 or less. Everyone would grumble and think they were getting ripped off. They weren't it was simple supply and demand. I learned real quickly when coon prices went up, go trap something else.
Anthony
