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Iowa State farm management specialist says ‘reward the market’
An Iowa State University Extension farm management specialist is advising farmers to take advantage of the recent rallies in corn and soybean markets.
Steve Johnson says he expects early harvest yields to have a major impact on near-term futures price movements in soybeans.
“Who would have ever guessed, just a few weeks ago, that we could price 9.50-9.75 beans off the combine. That is the big surprise,” Johnson says. “I say ‘reward the market’ and generate your cash flow needs for this fall and winter.”
Johnson says the same message applies to corn.
“I think this market will find some support, but the support will probably be down around 3.50-3.60—still giving you a chance to sell corn at much higher prices than you would have anticipated.”
Johnson spoke during an Iowa State University Extension webinar on Thursday, September 17th.
