The December 2023 corn contract is in the $4.50 per bushel range while that same contract in 2024 is just over $5 per bushel. “That is the market telling you that you grew a good crop and demand is not there,” said Tommy Grisafi, Advance Trading/ATI Pro Media. “If you store and hold that corn for one whole year it’s worth 50 cents. Now do the math. There’s a cost of storage, interest rates and shrink. If you store that corn for a whole year, I have a really good idea that the whole 50 cents would be gone.” In the monthly Bull Pen interview on the Red River Farm Network’s YouTube channel, Grisafi also discusses interest rates, gold prices, and the drop in the cattle market.
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