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IN | Ethanol line is empty this time of year here which is kind of strange. Had a 40 over basis and dropped it to 20 so I know that took some steam out of the sales. Other than that I think most are down to the sweeps and hoping something gets stirred up to dump the rest of it. Fact is closer you get to harvest the less of a push the end user needs to make to secure that old crop. They know farmers like to start with clean floors and will get rid of it at all costs. I think most end users are probably sitting pretty good on supplies right now and have no real need to push for buying. They’ll be plenty of corn showing up to buy first couple weeks of September. That’s when you could see another basis push to lock in some early harvest corn sales. I don’t see it going up until after the January purge of sales is over for bills the farmer needs to pay. I suspect February could get interesting if the yield comes in below 180 and there’s any harvest related issues getting the crop in | |
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If you are a physical buyer / user of corn?
