So your saying it works.. till it doesn’t eh?

A washout in Cattle prices could change that math.. or launch the next rally.. ??

Unlike a few years ago.. We’re awash in Grain.. (SouthWest) Corn basis here is about $0.50 lower to as much as $1.30 from the peak.. we’re 20 under.. today.. which should firm.. back to option.. or more?? However, I remember $1.30 or more over in.. 2022? 

Kansas could probably ship corn to Iowa this year.. feed Sorghum or wheat to the lots.. which nobody Wants to do.. but.. could.  Not saying that’s how it will go.. Some years we’ve delivered 67% of the crop to the lots.. by now.. this year.. “not so much.” 

Now if China does buy some.. Wheat, Sorghum and Corn.. then.. different ball game.

The lots are NOT full.. by any means.. not empty either.. but.. “when do y’all want corn?”  “Oh.. March.. May.. not today.”  And Sorghum harvest is still going.. not a lot.. but.. not done either.

Storage is full.. so piling on the ground.. and needs to be dry.

It can change.. fast.. and by no means are we.. “overly relevant”.. but.. just saying.. “no shortage” here.. this year. 

making room for 26 wheat crop.. will.. be.. a.. chore.  Unless it burns up.. always an option.. unfortunately.. here.