The USDA crop reports are so hit and miss, but they rarely fail to impact the markets! I saw plenty of healthy alfalfa sprayed and turned under, only to plant corn. Hay prices are way up, and corn will probably drop further. My guess is somewhere around $4.25-5 (if some of the speculation falls out), but time will tell.....
Location: Currently in Lake Stevens, WA. Home in Spokane
posted 9 years ago
Their prediction is based purely on the fact that more corn was planted than expected. We are still a long ways from harvest, and millions of those acres are under water right now! Many areas are reporting that for the first time in years, their corn will not yet be knee high for the 4th of July. Many are still predicting low yields for the year. Is USDA merely trying to manipulate the market so "buddies" can buy in cheap for what may be record prices? Some large animal growers are trying to lock in feed prices NOW.
If you see a dip in feed prices, BUY, as it will probably be temporary.