From the floor July 15

[famfarmer]

Nice corn rally but like usual we're not seeing any benefit, our price is going down at the river,basis went from -12 to -39 in the last ten days

[p-oed Farmer]

North....... Below is the latest report on corn from the CFTC...... As you can see the small trader is short 159000 contracts....... I don't know how long that they can endure the pain........ It will be interesting to watch how these guys take another move higher if it happens...... p-oed

CORN - CHICAGO BOARD OF TRADE                                                                                      
CFTC Code #002602                                                              Open Interest is 1,442,318
    : Positions                                                                               :
    :  182,981   165,784   375,799   254,503   584,376   490,667    18,613 1,303,950 1,144,572:  138,367   297,746
    :                                                                                         :
    : Changes from: June 29, 2010              (Change in open interest:     -15,795)         :
    :   11,583   -45,039     2,727   -30,936    24,373       910    -1,395   -15,716   -19,333:      -79     3,538
    :                                                                                         :
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     12.7      11.5      26.1      17.6      40.5      34.0       1.3      90.4      79.4:      9.6      20.6
    :                                                                                         :
    : Total Traders:   716          Number of Traders in Each Category                        :
    :      174       168       235       181       290        28        19       500       619:

[dapper7]

famfarm where are you located? local basis in nw iowa have only moved by pennies. arent you still ahead with a 60 cent rally? look at the bright side. d7

[oncearound]

latest 18z GFS on day 13 shows the dome weakening and pulling out through day 16? still ridging and not much moisture is shown in the central belt in this timeframe....IMO.