07-26-2013 08:47 AM
Big pop in corn basis come early 2014???
Corn bulls are talking about the fact Mexico has now purchased an estimated 1.65 million tons - almost double last year - which now puts them at the top spot for new crop importers thus far. The word is Mexico is in the midst of a "severe drought" and extreme heat has added to the problem by drying up reservoirs, some of which are only at 10% of capacity in top growing areas. It's expected that this will be the worst agricultural year in the country's history and that up to 60% of sown areas could be a total loss. Thoughts are with many US producers having very little new-crop corn booked we are going to see just how much and how long they are willing to store the bushels. It could get interesting if US producers simply harvest the corn and stay tight fisted. We might be looking at another big pop in the basis come early 2014.
07-26-2013 07:24 PM
the word is mexico is in severe drought. hmmmmmmmmmm the word was we were in one last year chase-man and this year the word is we DIDN'T GET THE CROP PLANTED ON TIME AND WHAT WE DID LOOKS LIKE CRAP!!!!!! please report this to the nut-cases in chicago