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illinifarmer
Advisor

Re: What???? The basis is improving?

Enjoy it basis local coop, corn -20 soybeans -35 not that luxurious all over. Crops well below normal -30 % at least.  Planted maybe 70% of normal year.  Lol normal year what am I even saying.?.

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WCMO
Senior Advisor

Re: What???? The basis is improving?

corn -30, beans -65
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sdholloway56
Senior Advisor

Re: What???? The basis is improving?

A bizzarre mismatch of supply and demand.

I'm not familiar with freight diffentials- and they're fluid anyway.

But ECB won't be able to feed the SE rail market and will require corn from the west to meet local demand.

Kind of begs for imports into NC.

 

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Re: Why not

Man, we have a whopping 10 cent positive basis in Indiana 

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timetippingpt
Honored Advisor

Re: Why not

Basis in IN is very much all over the board jessie. We shipped 5 loads today at 35 over in to a local EC-IN ethanol plant. Coring bins with powdered corn shelled at 30% at 35 over is a very good decision in our view. (plus they don't look too closely at the sample when they really need the corn :-)  )

Cargill Tipton is posted 18 over but you can do better if you push hard enough, or offer enough bushels. 

We have also done some nice basis transaction on Indigo Marketplace at well over the posted local bids fwiw.