04-19-2013 07:47 AM
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 ??
04-19-2013 08:00 AM
04-19-2013 08:25 AM
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
Or this one has multiple locations you can switch to check.
Set for Chatham if it works
04-19-2013 12:00 PM
A little more about Ontario basis
Basis changes as you further from the border
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