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mascoutah, IL | We have been spotting all of our corn here as we haul as are most others because of aflatoxin issues. Would love to contract but some loads are taking 3-4 trips to pass at another terminal. Anyway, and maybe I'm wrong, but I don't think it's right that a few of the elevators are dropping there basis substantially at the end of the day. One dropped 25 cents and the other around 45. In other words they bought all that spot corn for a discount. I realize they can do what they want with the basis and I understand the nickel and dimes but that is a little excessive. The usual terminals we use have not done this and they are the ones receiving the majority of the corn, they actually raised there basis today by 2 cents.. I just think it's poor buisness and will keep me from going back anytime soon. Am I out of line? Lost $460 dollars on one load today and about $250 on the other. On a side note that last few weeks have really shook a lot of corn loose here. If spring holds off a little while longer there may not be any corn left around here. Afternoon lines are 1-2 hour waits. We didn't see that at harvest.
Edited by dmswil 3/22/2013 23:13
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Basis Change
