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?
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.