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Ag banker encourages growers to capitalize on market rally

An ag banker encourages farmers to capitalize on the recent market rally.

Barry Benson with Omaha-based FNBO says a wet pattern across much of the Midwest has resulted in some weather premium.

“We have seen a nice little bounce back in corn and beans, and some of that I anticipate is due to the wet weather. The funds have been short, and so there is some positioning to be able to reverse their holds in the market today.”

He tells Brownfield weather in South America is also influencing prices.

“They are currently getting close to harvest time or in harvest, and with the rains they’ve been receiving has delayed some of that, had some flooding. So there will continue to be a lot of volatility I think not only here in the United States but also to the south.”

Benson does caution farmers not to get too caught up in the rally because he says it could turn at any time.

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