Utterback Marketing President Bob Utterback remains friendly to the corn market, even though it was the soybean market pulling the corn higher this week. “USDA did throw us a surprising gift with the significant reduction in corn yield. It’s out of character for them, but I think it is reflective they know there’s yield concerns. They also pushed export drops as much as possible.” Utterback advises caution. “We have a red hot market for the corn and a surprisingly strong soybean market. I would be getting inventory sold when I can get $9 cash. Unfortunately, for farmers in Minnesota and the Northern Plains, basis is still more than $1. Illinois and Indiana can get some sold at this rate, but Northern Plains farmers may have more of a struggle.”
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