Posted by PJBROWN VT on May 13, 2008 at 06:57:22 from (72.92.156.177):
Farmers got more of this year’s corn crop planted last week, but still just 51% of the nation’s corn has been put in the ground, compared with a 5-year average of 77% for this date, USDA says. Over the last 5 years, one-third of the crop had already emerged at this point; this year just 11% is up. Cold, wet weather in the Midwest has delayed planting. Corn futures closed at new highs on Friday, but slipped back today. The nearby MAY08 contract is $6.03/bushel, down 15¢. Further out, the JUL09 contract reached $6.76 on Friday, but settled at $6.64 today. USDA projects a smaller harvest in 2008/09, leaving ending stocks of just 763 million bushels, the lowest since 1996. Next year, nearly one-third of the corn crop is expected to go to ethanol, according to Friday’s “World Agricultural Supply & Demand Estimates” report. cme
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Today's Featured Article - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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