It was mid-July and corn jumped $2/bu. over early June. That $7.40 would yield a sweet profit. But drought-driven $9 was "guaranteed" around the co-op coffee pot. Your co-op buddies just knew it. So did some pro analysts. When it pegged at $8.40+ about Aug. 10, you weren't going to be the one who sold too soon. One scenario says that in late September, when corn was back down to $7.40, you were still unsold. And perhaps you still weren't sold when it rebounded after the mid-October crop report and closed at $7.65 on Oct. 19.
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