Posted by: usset001 | January 2, 2009

Start the new year right

moneyiconCash grain prices bottomed-out in early December and have since creeped steadily higher. Corn prices throughout much of Southern Minnesota were as low as $2.50 per bushel in early December. Cash corn prices are now in the area of $3.60 per bushel – 40% higher and back to levels last seen at harvest. Cash soybean prices are close to $9.20 per bushel, nearly $2 higher than prices of just one month ago, and higher than harvest levels of $8.50-$8.80 per bushel. The story is similar in wheat; cash prices are currently near the $6.80 mark in the Red River Valley. That’s more than $1 higher than recent lows and close to levels last seen in late August.

Do you still have old crop grain in storage? I don’t like trying to pick tops, but rallies that strong need to be sold. The new year is here and it’s time to see if you can create another tax problem for 2009.

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