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Purdue Ag Economist: take advantage of any rallies

An ag economist with Purdue University says farmers should take advantage of any rallies in the next two weeks.

Jim Mintert says future prices for both corn and soybeans have somewhat rallied.

“This is that environment where we have a tendency almost every year to see some kind of a rally take place with respect to crop prices,” he says. “I’m not going to say you should sell today but you should be looking very hard at whether or not this is going to be the time for that rally.”

Historically, he says, price rallies take place in June.  

“Over the next week or two could be a good opportunity to move out those remaining old crop supplies and perhaps do some pricing on the new crop,” he says.

Mintert made these comments during a Purdue Center for Commercial Agriculture webinar today.