Corn and soybean prices are supported by good demand. Progressive Ag Marketing market analyst Brian Strommen encourages farmers to take advantage of the strong basis levels. “Selling the cash if you have that offer on the table and if you’re looking at re-ownership, maybe buy call options in a later month. We’ll see what happens with acres and what actually gets planted. There’s usually some type of a weather event moving through spring into early summer. Then, there’s crop pollination and there’s lots of things that can happen moving through the growing year.” Traders will be keeping an eye on planting progress. “There’s talk about Brazil’s second corn crop and the need for moisture. This will play into the news, along with U.S. planting progress.”
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