Glasgow, Ky | Presently corn is +.0.08 and beans are 0.39 at one of the big elevators about 100 mi away. .
Side note: At this elevator Fall corn is -0.30 with a cash price of 3.93. Where I live commercial trucking to the elevator would be around 0.60 per bu netting 3.33. Local markets would be a better option but they have been pretty well full since last fall and their basis was around -0.40 last week. This fall, assuming a good crop, they will fill up fast with distant markets being the only option to move corn. Typically, this time of the year, their local basis is the same as distant markets Instead of the +0.08 we are in the -0.40 range. Bin space might be a good thing to have this fall.
Local basis might have changed since the Friday report which I have not checked on. Fall delivery looking bleak in your area? . |