The pleasant surprises in the fields for farmers across the country are painting a gloomy picture for those looking for higher prices in the near future.
“The crop is bigger than we think and the grower came in with less hedge than what he normally would. The good news is that he has a big crop, the bad news is he doesn’t like the price,” said Mike Mock, a grain buyer with The Anderson’s, Inc. “If you have 200-bushel corn and you can put it in the bin and sell a forward slot in February and you can get $4.50, that is $900 gross and guys are going to be fine with that for this year. They don’t like the price but we’re trying to get them focused on the revenue.”
The lack of price protection for so many bushels this fall is a real concern.
“It seems like everyone is putting corn in the bin with limited price protection and delayed pricing.
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