Emmett—Northwest of Emmett, cornfields stretch as far as the eye can see. Farmer Terry Walton is keeping a close eye on humidity and the corn. and harvesting mostly in the cool morning.
“We started some high moisture this morning, its just a little to wet still,” said Walton.
A little too wet, but on the corn front, the crop is looking up. All summer, the nation’s corn prices peaked below the break-even point…now Walton harvests this year's crop with renewed hope.
“As soon as we got to where we were comfortable, we contracted a bunch at $3.55 on the futures, just because we were a bit uncomfortable for what it had in store, earlier in the summer we saw $3.70 pushing $3.80,” added Walton.
Earlier this summer corn bottomed out at 3:32, In Chicago, it's holding steady at 3.66, May Corn futures now trading at $3.81
“Well the market this year has had some scary moments, It got down to 3.20 on the futures which are way below my break-even point, and I never thought that farming is for negative dollars is all that fun, farming for free is not a whole lot of fun, much less losing money every day,” said Walton.
Everyone one harvesting corn is not only watching the commodities market but the feeder market as well.