Rational exuberance...

I went to to a Free-lunch Fertilizer meeting yesterday just to see old friends and neighbors. (That seems to be harder to do anymore). If you are like me, you could eat free the whole month of August with a little planning by attending seed plot tours and customer appreciation days.

Anyway, one of my favorite ag economists, Darrell Good - a local boy made, well, "good" - spoke about the price outlook for corn and beans. I appreciate his commments because they are thoughtful and carefully articulated. So when Darrell couldn't find any reason to be less than bullish about corn for the next several YEARS, I sat up and made a note.

Couple that with Jerry Gulke's poorly contained enthusiasm for corn prices and I start to get all warm and tingly inside.

Guess what: so is about every other farmer who can coax a corn plant out of the ground.

We're already factoring higher prices into our decisions for rent, machinery, and other inputs.

Hmm, I wonder what land prices will do this fall?