“New-crop price weakness reflects expectations of a large U.S. harvest this fall following the recent harvest of a very large crop in South America,” Good said.
“Old-crop corn and soybean prices are expected to be supported until sufficient rationing has been confirmed.
"If 2013 production levels reach current expectations, further weakness in new-crop prices would be expected. Of course, that is the question. What kind of summer weather will unfold?
"For the old crop, current price premiums suggest a strategy of spacing additional sales over the next several weeks.
"For the new crop, production uncertainty along with prices well below the spring crop insurance prices suggests a strategy of modest sales for those with high levels of revenue insurance coverage,” Good said.