Corn prices have posted a new contract high and a new contract high close every day this week with today’s price up to $7.35 on the July contract as we approach the all-time highs posted in 2012 at $8.43.
We have the future prices for 3 separate crop years shown on this chart. Clearly old crop corn with tight stocks leading the way with today’s prices closing at $7.32. About a $1 discount for new crop Dec corn and then another $1 discount for CZ22 corn. At this time we are not overly excited about selling CZ22. Certainly $5.24 is a good price but the markets are in an accelerated uptrend and there is a massive discount for new crop 2022 corn. We’re going to let this scenario play out before we advise sales for the 2022 crop year.