Marketing

[jec22]

Confusing.  Report says more corn, less soybeans.  Yet, basis or the last few weeks have improved much more for corn than beans.  Corn under loan is at a record low for this time of year and beans are running much closed to trend under loan, though still very light for big years. 

Makes corn buyers look kinda wrong; pushing basis when they didn't need to.  Good to know it isn't just farmers that are wrong all the time.

Some of us guys that farm all over the country might have to post guards on our bean fields.  Might show up to combine, and someone might have beat you to them! 

VRbuck looks to close the gap at the next turn.  Was that 20 cash or on the board? 

Whoever said life is better than fiction got it right.  Past the popcorn and enjoy the show.  I have NO idea how this one ends.

[rayjenkins]

851 myn bushels is still very, very tight

last year was 1.1 byn

just because corn is tight does not have to mean that futures go to the moon......folks are coming to realize that a lot of last year's price action was about QE and folks wanting to be in commodities....not the same situation this year, plus world wheat and corn supply is not a disaster...basis has to do the work this year....

[Hobbyfarmer]

For those with corn in the bins it might be a good time to NOT check markets for 5 days.

Before this is over we may see futures prices in Chitown and cash price that actually buys corn in the country this summer in two entirely different worlds. (Translate= record + basis)

[sw363535]

Jec22,

Keep in mind that the producer is still the only one who has an assesment of the old crop supply based on reality.  All else is guess work based on the "law of averages" or "trends".  

Basis will be fun to watch.  And if you got a load or two left to sell from the "empty bin" there will be holes to fill..

[Hobbyfarmer]

This morning the local price is 15 over July for May, June, and July No carry in the market.

[Palouser]

So, what about the report that commodity contracts volume was down 40% year on year in March? Do you have hard info that indicates that the ever elusive QE has made its way into grain? 

[kraft-t]

Ray what is your basis currently on old corn?

[rayjenkins]

Don....our best bid is for July delivery at +35N

[kraft-t]

Wow!  That's pretty strong! +15 tonight at gold eagle.

Thanks!

[idalivered]

don, +15 at ncc. incredible, but price below 6 after yesterday's drop. conventional thinking has always been that farmers will sell their remainder when they see their crop prospects. I'm wondering if this year, farmer s are so well capitalized ; ) that they might just hang onto the last portion of their crops. these soy prices will keep cas flow going for many well into 2013 with any kind of soybean crop. Just my thought from the planter seat, tho.