(Ralston) Forecasts for a large corn and bean crop are a few factors weighing heavily on the downward spiral of the grain prices this summer.
Gerald McAfee, Senior Grain Marketing Specialist for West Central says September old crop corn a year ago was priced at $8.06. The 2013 September corn price is $4.98. 2012 September soybeans were $16.91, today they are priced $12.86. November 2012 Soybeans were sitting at $16.41 compared to today’s price of $12.07.
McAfee says the direction of the market from here on out depends on the weather.
“We are trading off of a big crop and we are probably going to get one,” stated McAfee. “But, I noticed while I drove from Audubon to Ralston this (Wednesday) morning that this crop is starting to show some weather stress.”
McAfee says, “I think the big question is how this crop is going to turn out.”
The weather forecast looks to bring better moisture many areas in the near term, but continued below normal temperatures are raising concerns.
July 31, 2013