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NWMO | As far as I can tell, without some real fireworks, this market appears as though it wants to bleed for a while. Hopefully not a long while. I know northern Iowa and Minnesota is wet, but markets don’t care. We flooded thousands of acres in 2019, the vast majority of crops between South Dakota and Kansas City was lost in the Missouri River bottom. Didn’t matter, the market didn’t care and everyone else nationally grew a 168 bu/ac crop, down from 176 in 2018, and the market still didn’t jump.
If I recall correctly, there was a big short covering in 2019 from May-June and the high was set in early July around $4.5ish and never went back to that level until January of 2021.
Should corn be $5/bu? I think so from a farmers standpoint, but the market 100% doesn’t care what the farmer wants or needs, it’s the cold truth that I’ve had the displeasure of learning lol | |
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Let’s say 181
