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Frequent Contributor

Whats your local basis?

Local supply and demand appear to be getting out of line. Basis in Clark Co Iowa is -.10 from Sept futures for cash corn and fall delivery is -.35 from Dec futures. But I just talked to my brother down east of Nashville and their local cash basis is +.80.  That's a 90 cent spread are any of the rest of you seeing any swings in basis points?  

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Veteran Advisor

Re: Whats your local basis?

+70 cents here in NY,  up from +50 a few weeks ago.  A lot of corn didn't get planted here in a timely fashion and that what did is highly variable.  I've heard that in eastern PA the basis is +90.

 It looks like you people in Iowa are giving your corn away.

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