Markets Make The World Go Around Markets exist to help smooth the flow of information and make the future more predictable. But sometimes it takes a Ph.D. to figure out what is going on when corn goes above $8 and you are sitting on several thousand bushels.
To help figure out markets in general, look in to the video Backwardation Bullish or Bearish (less than 5 minutes, from The Khan Academy). This is a very simple video but it helps set the tone about markets and what they might do. For a more advanced look at futures markets, check out this Yale University Forwards and Futures class lecture (~1 hour 10 minutes).
The dairy industryis different. The reality is that set milk and feed prices are a thing of the past and many dairy operations need to approach revenue with a new look. Fulper dairy farms, in upstate New Jersey, is tackling what were perceived negatives and turning them into positives with revenue generation potential.
One of their negatives turned positive? Land. The land prices in their region is expensive because it is so close to New York City (about 90 miles). But that negative turns out to be a revenue generating positive. New Yorkers want farm fresh food and being close means dairy products like cheese have more value in the city.