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Did I miss something in the corn market?
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Big Ben
Posted 9/27/2016 22:21 (#5552692 - in reply to #5552676)
Subject: RE: Did I miss something in the corn market?


Columbia Basin, Ephrata, WA
Kooiker - 9/27/2016 20:16

Big Ben - 9/27/2016 21:57
peterbilt379 - 9/27/2016 19:11 I got 3.92 a bushel which is still high
It's not high when you normally have a dollar of basis, and that is for the corn delivered in.  




 $140/ton for wet corn is higher than $3.92


How high depends on the moisture content but if it was for 30% corn its closer to $4.75/bu of #2 corn


Even 25% corn would be about $4.44 adjusted to 15%


Sounds pretty high to me.            






 



I was working on the assumption that it's moisture adjusted and the $140 would be per ton of dry (15%) corn. Otherwise it's a crapshoot what the corn is actually costing the dairy, depending on just what moisture it comes in at.
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