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Advisor
Posts: 1,181
Registered: ‎06-30-2012
0

Whats the basis.

Guys, where is the basis at the country elevator/ethanol plant now that we got this half hearted report?

Has the cash price and the basis lost convergence yet, to reflect the reality of the situation, or are end users to follow the USDA's report?

Looking at the local forecast for next 14 days: corn planter is frozen in the ground for next 7, if it warms up, its straight rain. No!-- its precip for 10/14 days... and mostly during the upcoming "heat" we shall call it..

 

Winter should last into April here, for me in Ontario.

Senior Advisor
Posts: 1,699
Registered: ‎04-29-2011
0

Re: Whats the basis.

There won't be much movement of corn at all now.......until the basis moves up again.     On the bright side, the lines won't be long at the elevator.

Veteran Contributor
Posts: 77
Registered: ‎05-01-2011
0

Re: Whats the basis.

Our basis moved a negative 30 cents today. We were at a plus .21 and now at at negative .09 so we lost .70 in corn today.

Advisor
Posts: 1,181
Registered: ‎06-30-2012
0

Re: Whats the basis.

Guess that means everyone thinks Monday will be a negative day too.

Honored Advisor
Posts: 4,340
Registered: ‎01-10-2012
0

Re: Whats the basis.

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Senior Advisor
Posts: 4,355
Registered: ‎06-19-2011
0

Re: Whats the basis.

My local basis didn't change any, but they are not posting a bid for old crop corn or milo. New crop cash bids mirrored futures movement.