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Boone Co. Iowa | My price later beans goes through Oct. 11 or 13 or so. It will be interesting if "posted" bids are the same as what some farmers put in their pockets for early beans....
As for the basis, I guess I am surprised. Crop feels short here, no matter what Pro Farmer tour says. But we will be dealing with last year's corn bushels for a while yet I guess. We still have the bottom of one bin left in corn. Should have cleaned it out with everything else 6 weeks ago.
I look at the nearby months, but also out to January or March. Still a pretty wide basis compared to other years. I guess that looking out to 2018 delivery months, was surprised that basis is so wide. My thought was that this crop would be a little shorter than last year, and that at some point it would make sense for a grain user to try a little harder to buy/source his corn needs out a few months. But, it looks to me like market is saying, don't worry about it. Corn will be there, and it will be cheap.
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Corn Basis Y-O-Y
