Okay we are one day from finishing on the corn.. been busy so haven't had time to update but will post a few comments now.

Wow.. how short are the funds?  That's all that matters.. technicals.. fundamentals.. chart's.. graphs.. spreadsheets.  Nothing else matters.. it's all about money flows.

First let's talk harvest.  We had a good crop.. 115'ish dryland and 2?? irrigated.  Haven't figured it up yet..  That being said I still have 4 empty bins.. (now granted 3 of them are 1200 bu seed wheat bins but still..)  We will end up with less corn in storage this year vs last year "here."  My entire dryland crop was consumed as delivered to area feedyards.. "When is the irrigated gonna start?"  "Gonna be a big crop.." and it mostly was.. but demand is also RECORD LARGE..

We got rained out.. which presented an opportunity.. and yes I am nuts.. but I did it anyway.. I trucked beanies to the next processor over for about a $.40 pop almost back to pre harvest basis levels.. not before the Big Invert but pre harvest.. +.20 (big whoop..) to fulfill some contracts..  Again in Kansas.. beanies mature at elevation first.. then work downhill.. so Western Kansas goes first.. and by now Eastern Kansas should be starting up.. so we had beans.  Flip side the corn matures earlier on heat units back east.. so we had the beans.. and they had the corn.. So I bought some corn for the return trip..   I had to go about.. 35 miles out of my way.. but on the day I did it.. it was pouring so... "can't do anything else.. why not?"

They were paying.. $2.91.. obviously I had to pay more than that.. but I took it to a place that was paying.. $3.80.. Now before I get roasted consider that I spent.. well we burnt the diesel.. probably $2500 worth.. a couple tires.. one truck was due for a new clutch.. the other is next.. etc.. but that would happen anyway.. It was a get rolling by 5:30 am get home by 8:30 pm week..   But I got to see some different country.. and I got my contracts filled and I did the best I could on the basis..   Would I do this again?  hmmm.. probably no.. but I got my soybean bin down so I can hold the rest of that crop now.  I basically traded truck time.. for standing in line time at the local processor so at least I got paid for truck time.. I hate being someone else's unpaid storage on wheels..  Next year.. gonna build some more bins..

So I've been across.. pretty much the better part of the state this week..  There are no piles outside.. other than planned bunkers.. and even those are not full.. I went by the one that Suderman tweeted out a few weeks ago.. and it's not any bigger than the pic he sent.. which surprised even me.. now that area still has maybe a third or 25% or thereabouts to go yet so maybe they fill at the end here but.. that's pretty typical.. even at the place I picked corn up at.. So pretty big crop you guys gonna be able to hold it?  "We're filling a bunker but I don't know why I got  250 k of room in this bin and a couple of smaller ones yet.."  No we're not going to fill..

Which brings me to my next point.. a basis map is pretty over-rated.. I mean this place had a poor basis.. but only did..??  4 or 500 k of corn.. maybe more..??  Meanwhile the $3.80 place probably does a couple Myn bushels...so...???  (It's not their only yard.. "We got others if this one doesn't work for ya..")  A basis map does not show the depth of trade.. which brings me to the funds..  I think Richard nailed it below...

If commercial shorts (are) a valid measure of producer selling, producers are dramatically less sold than other years, by half as much. This data is for futures only so I would guess that if options were include I would guess as much as 4 billion bushel undersold. Furthermore even though harvest is well underway there isn't that much new selling.
 
I suppose this implies that producers are very reluctant to sell at the current prices and are comfortable holding corn even in the face of a supposed huge crop. Given that exports are off to a very strong start suggests that sooner or later the merchandisers will move what corn they have already purchased and will come back into the market for more. 

http://talk.newagtalk.com/forums/thread-view.asp?tid=508386&mid=4133398#M4133398

That lines up very well with what I saw.. the only lines are at storage places.. the feedyard that I delivered to only had 4 loads in their mill.. and they were chewing through 6 per day.. 45 per week..  "Hey we're glad to see ya.. when are you coming back?"  So just like my burn sheet shows.. the early bushels are ALREADY GONE..   Now they lowered their basis after I started coming.. "found a sucker.." but they're gonna need to find a different one this week.. and the next week and so on for the rest of the year.. cause I'm done.  But they probably will.. their guy was rained out but got going later in the week.. and there's probably a couple guys with bins filled ready to go.. and an elevator or 2  or 3..

Anywho was the yard full?  No.. was this the biggest grind they had ever done?  No.. but golly when you add it up with 60.. 70.. or ??  how many other yards there are out in Western Kansas..   That's 500 600..?? loads per day.. 365 days per year..  And that's what amazed me.. is that even though we are bringing in this RECORD Crop that we are FILLING RECORD Demand along the way..

"go by and grease and fuel the combine.. I'll run this load out to Dodge..  then swing back by and bring the first load home to the bins and start filling.. then the next one can go to the ethanol plant.. I need a couple more in to fill the land lords at the coop.. they are done with the bunker now so lines could get longer.. but some are done now so.. ??  we can do that in the morning.. etc.. Dang.. neighbor polished off the circle across the road yesterday.. only has 7 left.. we got to get going.. Don't want to be the LAST one done.. he he he.. "

And that's how it went.  I'm not going to have as much binned corn as last year.. I'm ready to start seeing basis improvement with Maize..  But I'm gonna take a siesta first.. when we get all caught up.

I'm sure it's different up in Iowa and the Dakota's.. but here.. "We're done."  Well almost that is... but for all practical purposes.. finito.

Now it's smoke the shorts time... well still need to figure Insurance this month... let's wait a few weeks longer.  Anywho... wow.. what a year..  The crew.. half of them hate me.. I'm used to it.." the other half.. "well that was kind of fun.. at least we weren't bored.." One wants a Peterbilt..

Honestly the whole hitch in the get along is that there are NOT enough Trucks to move things.. not enough suckers to put in the hours to move the crop at critical moments..  Like the feedyard guy said.. we used to have so and so truck for us.. he had 6 or 7 trucks but he retired and we haven't found a replacement yet.. Since I'm a farmer I had to BUY the corn in order to be legal.. so I did.. but the guy that made the $$$ was the merchant that sold it to me for more than it was worth..

"always something."

Anywho.. we did our part.. if cattle go hungry somewhere.. it won't be because of us.  Trucking is hard work.. I was sitting on the scales when they opened at 7:30 dumped.. home to load.. buzzed across to the processor.. fortunately the lines were only 45 minutes.. and buzzed up to the elevator by 4:45 and home.. we had an extra day in the schedule but we needed it..  Golly I'm ready to go back to farming.. it's a lot easier..  If you want to stay out on the tractor till midnight.. there's nobody waiting on you to close the doors at 4:45 pm like trucking..  trucking is stressful.. but it was a change of pace..  and the flinthills are beautiful this time of year.. saw one of the prettiest sunsets on the way home.. yup.. Never again.. but it was a good week.