Soybeans & Crops In General

The Washington Post headline says it all.

The price of soybeans hit an all-time high Wednesday as a devastating heat wave continued to pound crops in fields.

Soybeans for August delivery rose 44.5 cents, or 2.7 percent, to finish at $16.835 per bushel. Wheat prices ended at the highest level since the spring of 2008 and corn prices are pushing toward their all-time high set in June 2011.

Here in our little world on the extreme eastern edge of the Corn Belt, we received two inches of rain yesterday and today we had a long soaking rain that was something over .3″.

This afternoon, corn for December delivery was $7.8675 a bushel.  This is just a tad lower than the all-time high reached last month.

I’m looking into buying a side of beef.  Our local meat market is charging $2.79/lb.  I’m thinking instead of the standard 350 lb side (approx), I’ll go for a younger and tenderer side around 300 – 310 pounds.

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