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Hobbyfarmer
Honored Advisor

Local cash corn basis

They put 4 cents on it yesterday

They just added the rest of the dime a little while ago.

 

$1.70 positive corn basis 9 miles away.

 

Ray J isn't sharing well evidently.

 

Corn in this area is just tassleing and starting the silking, 97 degrees forecasted for this afternoon.

 

Do excessive Heat units make grain too?

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11 Replies
Canuck_2
Senior Contributor

Re: Local cash corn basis

Wonder what it costs to haul a tonne down to you.

Local basis is +80 and that is Can$ think if you convert to US$ it lowers it a little more.

 

Did i mention there is no shortage of corn in Ontario.

Have been exporting all year.

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weedman
Veteran Contributor

Re: Local cash corn basis

Is that positive basis by the bushel or the ton? If you have an abundance of corn why is the basis positive? Doesn't seem to make sense to me.

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Longcreekfarms
Senior Contributor

Re: Local cash corn basis

Because Chicago is so out of touch would be my unprofessional opinion.
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rayjenkins
Veteran Advisor

Re: Local cash corn basis

Hobby, it's not me causing your local a headache.......it's the ethanol boys at Menlo bidding +180U

 

I don't think we have purchased corn south of 92 and west of 65 for months and months....

 

guess they cannot buy it fast enough from Creston to put out their fire, eh??

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Hobbyfarmer
Honored Advisor

Re: Local cash corn basis

Somebody higher up the food chain than Dean has been selling train loads to someone else.

 

This is only the middle of July. I think there may be some left over fireworks from the fourth to go off later.

 

There is still corn out here but I think it is going to take $7.50 and maybe an $8 offer to sweep the bins.

 

Or a widespread rain soon. 

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farmerguy89
Advisor

Re: Local cash corn basis

It's + so that it can be moved to the USA to get that .90 premium. Otherwise guys would figure out a way to get say $2 bu more.
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cyjd
Contributor

Re: Local cash corn basis

Was told today don't call ADM Cr and ask for anything less than +2.00 unless you want to sell it!! Also was told yesterday the big hog integrators still don't have physical bushels covered to feed the little piggies till harvest...hoping they keep waiting 🙂
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Hobbyfarmer
Honored Advisor

Re: Local cash corn basis

I thought the '13 crop was as good as in the bin back in March... can't they use a few of those USDFA bu's to tide them over?

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Canuck_2
Senior Contributor

Re: Local cash corn basis


@weedman wrote:

Is that positive basis by the bushel or the ton? If you have an abundance of corn why is the basis positive? Doesn't seem to make sense to me.


For 56 lbs.

BTW it rose today to +85-90 and that would be $0.82-.85 US at todays exchange rate.

Still a $ less than basis in US and that would be around $40 cheaper per tonne.

Should be able to truck it out for that and make a profit so those who are short in the US only have to put an order into Ontario.

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