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Honored Advisor
Posts: 5,702
Registered: ‎01-10-2012
0

Bean basis

Eagle Grove Iowa crush -52 AGP

 

Iowa falls, Iowa crush  -45 , Cargill

 

Des Moines, crush       -30. ADM

 

AGP told me they are almost fully booked for July/Aug by the coops delivering old crop beans they sold the carry on.

 

Have The first two bought so many $10 beans they no longer need to bid up?

 

Nobody wants to drive into Des Moines and deliver in their squirrel hole? Tighter grip down here or less beans?

 

 

Honored Advisor
Posts: 8,785
Registered: ‎07-18-2011
0

Re: Bean basis

AGP answer sounds like the pat answer to any and all complaints..

 

15 cents better to go into DM........ probably should be more..... 

 

 

May and June are time to get things in line for summer because somewhere around 90 days before harvest the buyers want to get stuff scheduled up and know they are covered until the "off the combine" sales come rolling in begging for a price.

 

My first lesson in storing grain.  Good basis suddenly turns into We are all full into harvest.  And I had cash flow sitting uncontracted. 

There is always a few that come up short in august and need a little "bonus" bushels.  but you don't want to end up with a lot of grain in the bin if you need the harvest space.

Honored Advisor
Posts: 8,785
Registered: ‎07-18-2011
0

Re: Bean basis

This has actually been a pretty nice spring for moving stored grain.  corn has seen a 50-60 cent bonus from the storage

(a little better than the cost of storage finally)

Veteran Advisor
Posts: 4,221
Registered: ‎02-11-2013
0

Re: Bean basis

Old crop basis. $1.05
New crop basis. 90 cents
Veteran Advisor
Posts: 725
Registered: ‎05-13-2010
0

Re: Bean basis

You forgot the minus sign

Veteran Advisor
Posts: 4,221
Registered: ‎02-11-2013

Re: Bean basis

I'm optimistic ☺
Honored Advisor
Posts: 8,785
Registered: ‎07-18-2011
0

Re: Bean basis

see clayton 

 

That is what you get if your overly optimistic.  Smiley Happy

Veteran Advisor
Posts: 725
Registered: ‎05-13-2010
0

Re: Bean basis

That's gotta be a first for El Cheapo!  But I dont really want to get in the way if he's that optimistic.   Shaking my head