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| I wonder if the reason for an abnormal basis is alot of damaged corn. Our "local" elevators are full of damaged corn and waiting for "good" corn to come in for blending. I have heard of terminals in the same situation and some are building outside storage for the poor corn for blending. It seems as if they are just biding time so as to reap as much $ as possible from a poor corn supply.
They take a discount on the damaged corn, put they still have to fight to keep it in condition before the new buyer and are taking a wide basis (distorting normal basis during demand) so as to off set the risk and knowing new corn will be here shortly.
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triple tops
