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Central Missouri | About the only reason ray would be interested in a market upswing would be because it would induce farmer movement and the corn basis would likely sink. He is a basis buyer. If you are a commercial processor in the heart of America right now you have 4 months left to worry about. They are probably covered for a lot of June, a board up move like is referenced above would probably get farmer movement to cover July and part of August and if corn growing weather is average or above the need to empty bins will cover the rest. If this is a scenario you think might play out do a basis contract now, move your corn, and price it on the upswing. | |
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Elliot Wave corn
