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Senior Contributor

Is anyone locking in the corn basis today?

It seems tempting to lock in the corn basis today. Our elevator is offering $1.22 over Chicago. If the chicage price catches up with that somewhat this would be a real winner. What are your thoughts?

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4 Replies
Senior Contributor

Re: Is anyone locking in the corn basis today?

Obviously I am talking about old crop here.
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Senior Contributor

Re: Is anyone locking in the corn basis today?

I'd love to. Nothing left in the bin though.
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Honored Advisor

Re: Is anyone locking in the corn basis today?

I took a basis contract a month ago on the last of it --delivery in July ---- so I am out of the game .  But lets face it ------ it is a good price.  Is it profitable for you on your 2013 expenses??  If so it is a good basis and price.

 

Question is--------------- Does a basis contract in hand make you gamble more on price moves?   The hope phase that some refer to.

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Advisor

Re: Is anyone locking in the corn basis today?

Sw--a good basis contract does make you gamble more on pricing! As me how I know. Been there and done that a time or two. I guess I am a very slow learner.