Centre county Pennsylvania, USA | "do you think 1.20 is attainable for next summer? At least in the eastern half of the state." Yes, but I think +60 basis is most likely peak here next summer.
Posted basis bids historicaly increase from harvest to May or June of the following calendar year (the spring seasonals). Based on that historical behavior, expect to see higher basis bids posted for old crop (2016) corn by May or Jun 2017. For that reason, contracting for old crop cash sales before May of the following calendar year may not be best market plan.
Posted cash corn and basis bids are for reference only, Unposted cash corn and basis bids are often different than those posted. When the right time has come to contract for old crop cash corn sales, phone calls to prospective buyers, and negotiations, are required to find best (highest) basis at that time. |
Corn this year," here".
