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Hobbyfarmer
Honored Advisor

$5.75 Cash corn

Just hit that offer for second time in about a month.

Central Iowa E plant. Now through July my choice which month.

I've still got some to get delievered at $5.50.

$5.75 looks pretty attractive.

Kind of builds up in bank acct a lot faster than that S3.50ish stuff last summer.

$2000+ a semi load "more better".

 

Yesterday sfternoon and evening recieved about 8 tenths inch of rain. 15 miles south about 3 imches.

Was a welcome event.

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11 Replies
Hobbyfarmer
Honored Advisor

Re: $5.75 Cash corn

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Hobbyfarmer
Honored Advisor

Re: $5.75 Cash corn

Well just blew through that ...$5.81 cash...

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Wind
Advisor

Re: $5.75 Cash corn

Yes, a very welcome event.  .56" rain here in booming Dallas County.  I'm wondering if we should be planting a 102 day corn to catch the old corn price come late September?  That did work quite well some years back.

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Hobbyfarmer
Honored Advisor

Re: $5.75 Cash corn

The corn side of things keeps creeping into new high ground price wise.

Supposed to have adequate supplies.

 

The bean side of things have not followed into new higher prices yet. 

Basis is +15 to +35 but no new highs for cash offers.

They are supposed to be the one to go to pipeline or below.

Still an outside white top bunker of them here locally at the train loader.

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Hobbyfarmer
Honored Advisor

Re: $5.75 Cash corn

just recieved this as i was posting above coments.

 

"DTN Update:Have recent rains slowed you down? ADM Des Moines currently has Free Price Later! Deliver soybeans now and take advantage of any rallies later  this spring or summer. There is currently a minimal line delivering so call to contract bushels. "

 

Don't fall for this "free" thing.

It isn't free, gives them title, possession, and use of the beans with only a unsecured promise to pay you at a later time.

Also grants them more supply they no longer have to bid up to get. Hurts future basis improvement and therefore cash price.

Just a cheap trick for them aquire supply. Falls into same category as peanut butter in a mouse trap or a plastic lure on a fish hook...

 

 

sw363535
Honored Advisor

Re: $5.75 Cash corn

Reading Mikes article one would think beans would be the volatility champ but that is not what is happening.

Everything else is a anticipating the report.

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roarintiger1
Honored Advisor

Re: $5.75 Cash corn

Local ethanol plant raised their basis three cents to +.33

This is an unheard of move on a day that has corn up around 20 cents.

As I type, their cash price is $5.95.

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Hobbyfarmer
Honored Advisor

Re: $5.75 Cash corn

Roaringtiger thanks for the update from the land of milk and honey.

Your living the life we only dream about.  😉

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roarintiger1
Honored Advisor

Re: $5.75 Cash corn

Hey Hobby, this is Ohio......not heav.....Iowa.