cancel
Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

Re: anyone have the score on the MT vs VR game....

Wait for the ratings Monday .
0 Kudos
Senior Contributor

Re: anyone have the score on the MT vs VR game....

He said could never get 8$ for this year. A lot of people sold 8$ corn last year, us included. U could never get 8$ for 2012
0 Kudos
Veteran Advisor

Re: anyone have the score on the MT vs VR game....

Ray, it is always fun to hit the highs, but just to make us guys in the middle feel a little better, what is the cheapest price on corn you have had delivered in the last 12 months? 

 

 

0 Kudos
Veteran Advisor

Re: anyone have the score on the MT vs VR game....

probably in low $3 range, but that would have been someone who could not deliver on their 2010 crop and had to roll ahead a year in an inverted market....that corn may have started out at $4+....

 

probably about the same amount delivered for that lower price as the higher.....very, very, little

0 Kudos
Honored Advisor

Re: anyone have the score on the MT vs VR game....

Date your basis peak----------------no way that works.  Basis was not peaking in or before August of 2011 for 2012 corn

 

Credibility heat stress.

0 Kudos
Senior Advisor

Re: Valero shut down Ethanol plant

'High corn prices' can mean many things. In the case of Albion the explanation I got was there was really not enough corn left in that area to buy the quantity the plant needed to run. That means buying it out of area and shipping it in. So, was it prices or end of supply?

0 Kudos
Veteran Advisor

Re: Valero shut down Ethanol plant

SW......the peak in basis for delivery in October 2011 happened in the summer of 2011 when there were a lot of unknowns about the timing of harvest.....we had a very poor southern Iowa corn crop in 2010....and we use the same amount of corn every day regardless of local supply, timing of harvest, or the cash price....

 

I fully agree the the best basis bids for the post harvest bids for corn grown in 2011 happened this spring and summer..

 

OK??

0 Kudos
Senior Advisor

Re: anyone have the score on the MT vs VR game....

Thank you....that's the point.....
0 Kudos
Senior Contributor

Re: anyone have the score on the MT vs VR game....

If memory serves me correctly, you were calling for between 97 and 98 million acres of corn being planted.  I wouldn't exactly call today's report as being what you expected.  Soybean acres were roughly as you expected, but you really weren't very close on the corn acres. 

0 Kudos
Honored Advisor

Re: Valero shut down Ethanol plant

Yes thank you Ray,

 

Basis contracts don't work very often because the peak in basis happens at the end of the marketable supply and the Price peak is usually prior to that.   Once in a while you get lucky but seldom.   

0 Kudos