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Advisor
425Cat
Posts: 1,660
Registered: ‎05-14-2010
0

Basis going the wron way

In northwest Ohio corn basis going the wrong way. Maybe there is enough corn for now. Might be some corn from Canada making its way to northwest Ohio southern MI.

What is basis in Ontario anyone know would it pay the freight ??

Advisor
425Cat
Posts: 1,660
Registered: ‎05-14-2010
0

Re: Basis going the wron way

misspelled wrong

Contributor
Barr-Clay
Posts: 11
Registered: ‎09-03-2011
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Re: Basis going the wron way

In SEMN our river terminal opened a week ago today and they said they have 40 barges here right away and all of them are bound for places closer than the Gulf. Maybe it is making it that far. Other terminals are loading rail cars for every direction as well
Senior Contributor
Canuck_2
Posts: 4,224
Registered: ‎05-10-2010
0

Re: Basis going the wron way

Dropped a little here too in the last week.

Spot price hit $240/t about a week ago I think.

 

'They' keep telling us we are on an export basis, priced low enough to export our surplus.

 

Here is one site to check prices in Ontario

http://www.timmermanselevators.com/index.cfm?show=11&mid=6&theLocation=6&cmid=all&layout=19

 

Or this one has multiple locations you can switch to check. 

Set for Chatham if it works

http://www.agris.coop/index.cfm

Knowledge is knowing a tomato is a fruit.
Wisdom is knowing not to put it in a fruit salad.
Senior Contributor
Canuck_2
Posts: 4,224
Registered: ‎05-10-2010
0

Re: Basis going the wron way

A little more about Ontario basis

Basis changes as you further from the border

http://www.agris.coop/index.cfm

 

that site gives you Great Lakes Grain prices for Chatham

basis is -50 cents for 56 lbs

Change location to Delhi, for example, moving further north and east and basis is -55 cents for 56lbs

Grand Valley which is further north than Delhi is -60 cents for 56lbs

 

Seems to show an export market as additional trucking distance is shown in basis,

 

Don't know if is cheap enough or not.

Remember the $ exchange comes into play also and can change from hour to hour

Knowledge is knowing a tomato is a fruit.
Wisdom is knowing not to put it in a fruit salad.
Advisor
farmerguy89
Posts: 1,202
Registered: ‎06-30-2012
0

Re: Basis going the wron way

Yes. I have heard of record exports frI'm Ontario to USA. This is likely weighing on you