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$4+ Corn

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Price of Corn

Corn price per bushel

406.75 cents per bushel

Daily change of -5.500 ( -01.33% )

Corn Quote Updated Jan-19-07 3:14 PM

The corn producers are probably dancing jigs...But I was at a bred cow sale where not much optimism was being shown-definitely a buyers market and noone was buying- 1000 lb bred black heifers that last year were selling for $1200+, bringing $950- and the fella that sold them told me he wouldn't have let them go for that, if he wasn't out of feed...One fella had about 300 head of 900 lb bred heifers that he took home because he couldn't get $850 for them- and I know he paid $800 for them last spring....
Not a very big or good run of bred cows- but the tops on them were in the $600-800 for solid mouths...Broken mouths brought more than that last year....Some smaller broken mouths that just needed some grub were selling for $400.....
 
Iowa friends of mine say its fence row to fence row and ground coming out of crp is all going into corn. There's nothing like the the American farmer to cut his own throat with over production.
It might be a long year but I bet you can buy some cheaper corn next fall. On a side note, the farmers can forward contract this falls crop for 3.50 or better . If it was my crop, Id sell it then plant it.
 
Yeah OT but the corn growers around here have been taking it in the shorts for a few years haven't even sniffed 3 dollar corn for a white and last year a lot would have danced a Jig to be able to sell 2 dollar corn for a while... It is going to be kind of an ugly few years I have a feeling unless we get some major bumper crops all over the globe.. Doesn't make it any easier for the cow calf folks...

The news around here is some of the ethanol plants that were going to be built 08 and on are being put on the back burner so to speak with 4 dollar corn. There is a biodiesel plant going up near here that is going to be able to convert just about anything into biodiesel, be it scrap pork fat or soybeans...
 
IL Rancher said:
Yeah OT but the corn growers around here have been taking it in the shorts for a few years haven't even sniffed 3 dollar corn for a white and last year a lot would have danced a Jig to be able to sell 2 dollar corn for a while... It is going to be kind of an ugly few years I have a feeling unless we get some major bumper crops all over the globe.. Doesn't make it any easier for the cow calf folks...

The news around here is some of the ethanol plants that were going to be built 08 and on are being put on the back burner so to speak with 4 dollar corn. There is a biodiesel plant going up near here that is going to be able to convert just about anything into biodiesel, be it scrap pork fat or soybeans...
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Oh Don't get me wrong-- I'm not cussing or condemning the corn farmer...I wish I had some good corn ground :lol: ...

But these cow prices are showing a big hiccup of lack of optimism...I still think the bred prices may come back some when all those drought areas now covered in snow or rain start getting green grass...But right now feed is getting short everywhere....I was talking yesterday with a Canadian friend that lives in a big hay producing area and he sells quite a bit of hay down here- and he said you have to go north of Regina quite aways before you can find any hay... Glad I got about a year of reserve on hand :D .....
 
That is going to be a short lived price swing. Ethanol Plants can't make money on 4.00 corn. They will switch to cellouse based products and they will probaly have a better supply.

That new plant in IL is looking for investors. They are proposing a 30 million gallon Plant. Thats a lot of Biodiesel.
 
Shorthornguy said:
That is going to be a short lived price swing. Ethanol Plants can't make money on 4.00 corn. They will switch to cellouse based products and they will probaly have a better supply.

That new plant in IL is looking for investors. They are proposing a 30 million gallon Plant. Thats a lot of Biodiesel.
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Which plant are you talking about in Ill. The only one that I am aware of solisating actively is at Gibson city which is just north of me but it is ethanol. There is a biodiesel going in at Danville but it is Bungee milling co,
 
Shorthorn, breakeven is roughly 4.05 a bushell corn but that is bought locally.. Corn can slid another 20 cents or so up before most areas hit or approach that depending on the Basis in the area.. But, the price, at least around here, of WDGS and DDGS are slowly creeping up right now so that messes with the breakeven a bit... A gent on Market to Market the other day said it might be breakeven around 5 bucks depending on what crude does.. Of course, this is all with a ethanol shortage in mind, who knows what it will be like with the glut that is likely to come when all of these plants come on line...



It will all be irrelevant though when they figure out cellulosic on a commercial level. Lot of yard waste in the cities, crop residue with little value and other things that will drop the bottom out of the corn market like no ones business. Whether that is 2 years from now or 10 years I don't know but I hope these plants are being built with the foresight to retrofit them for that other stuff..
 
I was told recently that the big push in this high corn market is the petroleum boys are in there buying grain, trying to break the ethanol business.....

not sure how much of that I believe, but what else will they do with their record profits???
 
If they want to break it what would need to happen would be for OPEC and other oilp producing counties to bring produciton up.. The funds control 25% of the futures markets in corn right now, even more in live hog contracts.. For a large part wallstreet is pushing this but they are reading the signs and they get more return i this than they are on the big board.
 
Northern Rancher said:
Heck I was down southeast of Regina in July it was wall to wall bales most places. Every hay pimp I know spreads shortage rumours lol.
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That was July- he says it has all been bought up....Don't know why he'd lie because his was sold long ago.....Or are you saying all Canadians lie :roll:
 
Guys around here are going to the bank with corn contracts, and getting the loan with no questions asked. Around here its good since we'll have alot of ground to cover next year, but it sure will effect the prices everywhere?
 
don said:
ot: .....Or are you saying all Canadians lie

that would be like saying all montana lawmen are stupid.
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Every hay pimp I know spreads shortage rumours lol.
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NR is the one that said the Canadian hay man was a pimp and a liar not me.....Doesn't say much for Canadians that raise hay....
 
Manitoba_Rancher said:
Ot,

There is lots of hay for sale up here!! That guy must have belonged to R-Hay...lol
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Now you say I can't even believe what a Canadian tells me face to face eh? :wink: :lol:
 

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