From the Farm: Corn Price Surge

The Morning Show

Corn prices have risen to levels that have begun to excite farmers, and give them hope of profitability for 2019. But what does that mean for the future. Stu Ellis visits with a commodity analyst and looks into his crystal ball.

Stu Ellis

Noted grain marketing advisor Rick Brock says current markets are giving farmers an opportunity to sell both this year’s and next years corn crops…

Rick Brock

This market has been difficult and boring since Memorial Day of 2018. Maybe people have already forgot that one, but we had some pretty good corn prices and we had $10 soybeans the Tuesday following Memorial Day weekend a year ago. That was the last really good marketing opportunity we had. You have to go back almost 13 months. But now we are getting another one and if you get east of here farmers don’t have anything planted or they got it in late, and if you say sell 30%, they say 30% of what? And that is a difficult issue in this year’s crop/ I’m confident a lot of farmers are going to take advantage of this move up, when ever it does peak, to market some of next year’s corn, and I think this is going to result in a fairly sharp increase in corn acres, a year from now.

Stu Ellis

And a lot of corn acres in South America too.

Rick Brock

Its going to raise corn acres everywhere, so unfortunately, in a year or year and a half we’re going to look at prices a whole lot different than we’ve got right now, and its not going to be a favorable prices.

Stu Ellis

And Brock US corn prices will spur more planting in South America

Rick Brock

High prices here, whether it be soybeans or corn is going to result in increased acreage in South America. I’m not worried aboaut them in the corn side, the soybean side is a totally different deal and we are basically throwing the export market to them. And we need to figure out a way to get that back.

Stu Ellis

That’s our report from the farm, I’m Stu Ellis with WCIA3 your local news leader.

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