House here in MN is heated with heating oil (basically diesel fiuel) - Corn would be cheaper at $6 a bu, think $7 would still be cheaper than fuel.
I gotta get my wood burner replaced....
Elevators are not taking long-term contracts any more, they have to deal with margin calls when they do that, and that got real expensive. Don't ask me to explain it in simple terms, but as they try to offset their sales, they have to pony up more & more money as the price goes higher. It is possible some will go broke, most no longer contract 2009 crop any more, several are not contracting for the 2008 crop either - or basis went up a lot to cover the margin calls.
This leaves us farmers holding the bag - high prices, but we can't lock them in. What if prices drop in fall - would be natural with a good crop. We get heavily invested, folks hear about the 'high price of corn' all summer that we can't get, then in fall we get low prices again....
Will be interesting, could be a lot of good & bad coming from these prices. At least it is more fun that trying to figure out what to do with my $1.40 corn a few years ago.....
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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