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Buxton ND | In 3 weeks you lost .13 off the July basis
ZCN is down .14
Flat pricers lost .27 in 3 week in a supply driven market.
This totally different then the DEMAND markets we were in the last years.
In 2 years we've went from "Farmer flush with CASH" to farmers flush with payments and NEED CASH.
Commercial, end users know this and HAVE known this since harvest.
Yeah that's a wide brush to paint but its wide enough for "the most" bushels, we're gonna carry over 1.8ish bb of corn guess the deep pocket guys will carry the "load" of "The risk"
Poorer basic, poorer board price = grain is moving to town in a supply driven market were producers simply need CASH. This just does not mean moving to town in your area. Corn HAS and IS moving into the east from the west, from Canadian areas and from the deep DEEP south called SA, all 3 us these are FACTS.
We've been having a tug of war with the end users vs the farmers.
Both were dug in the pits very deep last fall.
End users are firmly anchored in their yet.
Farmers,,, well the book keepers pushing the 400 pound guy at the end of the rope out of the hole.
You have the bankers filling in the hole and saying give me more sand. | |
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Basis contract still good idea?
