Utterback Marketing President Bob Utterback thinks hedging next year’s crop will be difficult. “A lot of guys are suggesting to me that the cost of production is going to be well above $5 (per bushel) and with any type of basis, the market is just about at break-even.” Seasonally, we are at a time when corn prices tend to drift lower into harvest. “You can probably count on one hand how many times we’ve rallied from the 4th of July into October and it’s only because of an extremely abnormal weather event. Weather is going to be king of the hill these next couple of weeks.”
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