Northeast Nebraska and Candelaria Philippines | This is what there midmorning update said "•US interior basis bids for both corn and soybeans continue to leak lower as harvest pressure builds."
Today, ADM Columbus improved basis. I would guess they are the largest user of corn in the state, and they set the market for the state. How can AgResourse put out this kind of information? Sad thing is I pay for it. Markets are difficult, but it should be pretty easy for an observant person to see basis is improving.
Funny thing is, in Nebraska, with a record crop, they are still improving basis.
I got flamed by the pros last year when I said this, but I'll say it again. THEY PLAY GAMES and hope to get a few sucker farmers to contract for the big negative basis, only to improve basis when the deliver period arrives.
It's too bad. Cash contracts are the simpliest way to market, but they've taken this tool away from us. The want us to HTA for a fee. |
Interesting times! Harvest basis
