An ag economist sees the current rally as an unexpected opportunity to move inventory before harvest.
Chad Hart with Iowa State University says the derecho and deepening drought conditions in parts of the Corn Belt are lifting the market.
“The discussion before the derecho hit was the concern about these big crops being projected coming in (and) storage being an issue looking forward because we hadn’t cleaned up enough of those old crop sales.”
He calls a rally at this point in the growing season unusual and tells Brownfield farmers should jump at the chance to move some old crop out of the way.