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Other US farmers told
Reuters they are signing contracts to sell the corn and soy crops they will harvest in autumn, months before they have even planted them, looking to take advantage of boom times after years of oversupply, trade wars and low prices. Some are waiting to sell, betting on even higher prices.
A dozen farmers interviewed by
Reuters said 2021 is shaping up to be their most profitable season in years as corn futures have rallied to their highest since June 2013 and soybean futures to their highest since June 2014. They are working to pay off debts and update machinery after years of sluggish markets left them dependent on government payouts.
Illinois farmer Fred Helms is so eager for his next soybean crop he invested in a faster-maturing variety of soy seeds in hopes of beating other farmers to harvest the crop in mid-September, more than a month earlier than usual.