News

Hope is not a marketing plan

The Vice President of Farm Services with NAU Country Insurance says farmers storing corn and waiting for better prices should have a plan for selling it.

“We used to say hope is not a plan,” says Rich Morrison. “I wouldn’t put too much of my money in the hope category, but we would expect to see a little bit of a post-harvest rally I’d think.”

Morrison says the slowdown in demand has been the biggest negative factor for the corn market in the last year.

“The high prices we saw last year probably had a lot to do with that and maybe these lower prices will start to pick demand back up.”

Morrison says there are probably fewer soybeans left to sell than corn and there is likely going to be more pricing opportunities over $13 for soybeans ahead.