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Farmers urged to sell as price drop looms

Author: Kristy

Market analysts say dropping prices will likely only get worse this year

Bob Utterback, an Indiana economist and columnist for Farm Journal, said American growers should look at low to mid $4 corn, $11.20 to $11.60 per bushel soybeans and higher than $5 wheat as target prices.

Michael Raine, The Western Producer | March 7, 2014

LOUISVILLE, Ky. — U.S. farmers who are hanging onto some of last year’s crop in hopes of higher cash prices later this year should think again.

“I am suggesting that this might not be the right strategy and you may end up getting caught with lower priced corn this summer,” said Bob Utterback, an Indiana economist and columnist for Farm Journal in the United States.

Utterback said there is typically a psychology when commodity prices fall quickly that “you couldn’t possibly sell at this $4 price. You didn’t sell at $7 and it went to $8 only a year or so ago. This is still $7 or $8 corn….” READ MORE

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