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Economist sees corn selling opportunities

An ag economist says there could be some selling opportunities for corn farmers.

University of Missouri’s Ben Brown says, “Opportunities for producers out there in that old crop market just to get some sales on the board and get started before the market really turns and starts thinking about potentially large corn acres here in the United States this summer.”

He tells Brownfield the March corn contract has been at or near the $5 mark this week. “In the futures market, you take some basis off that and we’re getting really close to some profitable levels for new crop corn as well here.”

Corn continues to monitor the development conditions in Argentina along with the second crop planting pace in Brazil, which is dependent on the speed of the soybean harvest.

Brown made his comments on Brownfield’s Weekly Commodity Market Update, which can be viewed below.