Producer sales...

Recent price gains appear to have ran their course. It is important to recognize the longer-term downside potential and the fundamental backdrop. We do not have a situation that warrrants an acreage battle like we have seen in recent years. It is very possible, if not probable, that current levels represent the topside of price potential parameters into the early spring period at a minimum. Deferred contracts offer at least $1 of downside potential in corn and something greater than $2 downside potential for soybeans. Producers need to seriously consider an aggressive price protection stance on both the 2009 production and expected 2010 production.

Published Friday, October 16, 2009 6:26 AM
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