Re: What direction is your corn basis moving? UP futures are not cash... delivery later
Futures are for July, Sept, Dec delivery at designated points.
Basis may be applied to fall sales bids as well but
Daily basis is today.
As each mkting yr end approaches, it’s a guess game, how much is there and who owns it.
In a tlight yr that is.
Corn is seen as tight into yr end, how tight ? plus new crop prospects come into the equqtion.
Corn basis is reported as up up recently, end-users need some. cool
But doesn’t mean futures can’t drop .
Owners of old crop corn are in a good position, for now.
Beans ? seem to not stop going up, old crop.
Wheat is staring into harvest and good yields on avg ‘acoming, I assume basis sticks and price is vulnerable, as we see today.