Hmm seems to be a slight difference in thinking here.
Check this out:
There is considerable difference of opinion about the prospects for corn prices beyond the current marketing year. Those differences are illustrated by the contrast in price expectations reflected in the USDA’s baseline projections released last week and the current price structure in the corn futures market.
While somewhat dated, the USDA baseline projections suggest that the average farm price of corn will be near $3.50 for the next five years. In contrast, the current futures market points to an average farm price between $4.40 and $4.50 over the next four years. Other price projections are even more extreme than these two examples, particularly on the low side. The USDA projections will be updated at this week’s Agricultural Outlook Forum. The forecast of the average farm price for the 2014-15 marketing year will likely be increased from the projection of $3.65 in the baseline projections due to smaller supply projections.