June 06, 2008 Clip 07/22/10 1:23:59 PM
Closes above the contract high of $6.55 in December corn translates into the fact your corn is now worth $7.50 board price. Do you understand this comment? This market (boiling teapot) would not have blown off it’s cap unless it decided we will not have sufficient acres and/or yield has now been reduced to a point where more rationing is required. When we reach the $7.50 area we will re-analyze to determine how much higher this market will go. The market has determined, by it’s own action, your corn is now worth $7.50 and you will see that price posted in the very near future. The problem? We were really hoping/praying this would not occur until our summer weather scare. When we reach $7.50, we will have better information to determine how much higher we can move. Are you looking into 2009 and 2010? The other shoe will drop. You better be prepared.
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