This week we are attending a USDA farmer grant review meeting in Minneapolis.  The group consists of 16 farmers from our 12 corn-belt states.  It is interesting to observe farmers complaining about high grain prices.  The three major points they mentioned are:

1. They are mostly sold out of old crop
2. The impact on rising input cost and land prices
3. When grain prices finally pull back they don't see comparable reduction in their production cost  

Weather and Volatility

Another discussion topic was the weather outlook that will be impacting market volatility in thirty day.  Most interesting was the frequent mention of Iowa State University climatologist, Elwynn Taylor and his most recent Tweet.