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Central Missouri | It seems that Price may have hit a bottom. End users need coverage. Cash corn is sitting in farmers bins or on storage at the elevator. Corn on storage can't be moved by commercials. Commercial end users know all of the above and don't want to drive basis higher because the farmer has most of what can be moved now and basis means nothing to a lot of them ..... so to get coverage commercial endusers are buying futures. This may get the ball rolling causing short covering by the funds. End result basis doesn't have to do all of the work, with higher futures farmers start moving grain which frees up bushels locked on storage as they are priced.
Any thoughts on this? Am I all wet?
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Just a theory
