Corn, Kansas City Wheat; Marketing Opportunity Ahead?
“One thing that producers need to be keenly aware of is the fact that December of 24 Corn is hovering right around $5.20 A bushel. I know that sounds cheap, but with what appears to be growing ending stocks with lower exports and lower domestic consumption as we move forward. There is a very distinct possibility that we see December of 24 Corn go down to the $4 level at some point four to four and a quarter just to put some rough numbers out there.”
However, he says this makes for a great marketing opportunity not only for corn but for Kansas City wheat as well.
“And the same with July of 20. For Kansas City. We were above $7 for a short time last week. I just think that December of 24 corn at 520 and July 24 Casey we over $7 That is a great marketing opportunity for producers for the coming year. It may seem cheap today but as we get on down the road, it is very likely we see those numbers get cheaper.”
Crossroads Coop, regional manager and grain trader Bryan Irey.