| Spot Price | New Crop |
Basis | -0.2000 | -0.2500 |
Cash | 3.1400 | 3.2725 |
Actually switching Corn to Sorghum out here on the plains makes sense.. from a market, cost and outlook perspective.
Which is why it is occurring.
Keep in mind that Sorghum.,. is very hard to stubble back.. etc.. so.. it almost guarantees an increase in fallow acres.. rotating back to wheat.. we can stubble back wheat into Corn.. which is what I did,, Over half of my 2020 wheat acreage is stubble backed on 2019 Corn.
.. evidently I was a little more aggressive than most.. but there is also a fair amount of Wheat as a cover crop.. planted on ground which was intended to go to Corn.. now they may keep those Wheat acres.. but we'll see what the cold temperatures do this weekend.