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SC Iowa | That's one of those "predicting the unknowable" questions right now....
if we go the rest of July without moisture, we are heading toward a cliff of sorts, and we may all be going over it...
we need to know quantity, and quality parameters of the 2012 crop.....neither of which we can guess very closely today...
I would not be setting basis on one bushel of new crop corn in the current environment for several reasons:
some may be selling corn they end up not having or not being able to fulfill the contract.....easier to extract from an HTA than a flat price contract...
after all this erratic basis behavior this year, I doubt it is over
depending on your market, this could easily be the year that having your corn hedged in your own account gives you maximum opportunity. I expect the wet millers who are in the food ingredient biz to be the market leaders if it comes down to a "fight for corn"..
good luck....we both need it! | |
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Ray J. basis?
