The run up in grain prices is giving farmers a chance to market next year’s crop at profitable levels. Utterback Marketing President Bob Utterback says this is the type of market you have to sell into as it’s rising. “Once this thing turns, it could be a sharp correction. It will be difficult for the market to sell on the downside. Seasonally, I have farmers getting started on 2021 sales, but we aren’t going nuts.” The market continues to add weather premium to build a cushion. “It all depends on your assumption of yield and acres. I think the USDA’s seven million soybean acres and corn at 1.7 million acres are sharply growing, but it will be about the yield. All they need is one good rain.”
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