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Patience needed with corn market

A commodities broker encourages farmers to be patient with the corn market.

Shane Holtorf with Logic Ag Marketing says prices are suffering from significant planting progress in the U.S. and points to crop insurance as a marketing guide.

“When I look at where our spring guarantees were, it doesn’t get me very excited about marketing substantially below that guarantee for now. So I’ve been trying to give my customers the ability to have some patience.”

He tells Brownfield once corn prices rebound from a weather scare or some other factor, growers should be ready to take advantage.

“But I’m just being a certain level of patient here, as hard as that may be when you watch the corn market just kind of grind itself lower for essentially 15 days in a row.”

Holtorf anticipates further pressure from the next weekly crop progress report as national planting progress is expected to take a big jump forward.