Price on the Downhill Slide

From planting through late April through mid June prices took a steady upward path to around $4.70 for '09 corn and $10.90 for '09 soybeans on the Chicago Board of Trade futures prices. Since mid June prices have been lower with the steapest declines in the 09 corn price to $3.47 near what prices were back in late December 08. Below are charts from the CBOT for the December corn and November soybeans. For landlords and other market observers this decline may have been unnoticed but will certainly be felt for those who do not have these two grains forward priced.