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Farmers have been anxiously awaiting some sort of market rally of substance since last harvest, only to be disappointed time and time again.  It is typical for those who are optimistic to want to point to the next seasonal, but so far none seem to be working.  Harvest lows, January contract expiration, March acreage reports have done nothing to persuade managed money from exiting their short positions.    We may have to temper our expectations this season as to what a rally is, but we continue to remain stubbornly optimistic waiting for any type of rally that would produce a profit.  My local bid is currently offering $4.50 cash corn for new crop.  Even with a decent yield, I am breaking even.  While I might not have the lowest cost of production, I doubt it is that different for most others.  Some may even be in a worse situation.   I have a hard time wanting to lock in a break-even price.  But I also have to keep in mind that the market does not care what my break-even price is.  We have identified profitable targets to begin making new crop corn sales but we need the corn market to break…

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