A guest speaker at Hensall District Co-op's Producer Information meeting had some good news for grain farmers.
Grain Marketer Frank Backx stated he was a little more optimistic about the grain markets than some other analysts. Backx says there's good support on the charts and while he agrees the fundamentals aren't real good it is all priced in at these levels.
He adds outside markets have a significant influence but believes commodities will finish the year a fair bit higher than they are right now.
Backx also suggests that because the Canadian dollar is low and the basis is high, the current value of $5 for corn and $12 for beans should pay the bills with the yields most farms are getting.
He recommends farmers do markets in increments and sell chunks at $5 and $12 because those are prices that will add to the bottom line.
