For U.S. Commodities market analyst Don Roose there is a common theme to the questions he’s getting from farmers; are we in a new plateau for commodity prices? “We don’t know so that means you have to take advantage of what you have. You have carry in the market with new crop this year and next year both profitable for our producers.” On August 31st of last year, corn was trading at $3.07 a bushel. Progressive Ag Marketing President Ray Grabanski says the May contract went up to $7.70 per bushel. “That $7.70 corn if you held it until now is off the December contract at $5.30 so there has been quite a change in the market. Right now, we have new crop 2022 corn which is close to its all-time highs.at around $5.10.” Grabanski said there may not be enough corn in this area to meet demand and the basis could skyrocket. Roose and Grabanski were part of a market outlook panel at the Big Iron Farm Show.
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