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| Its a ballsy to be the holder of OC corn but if you play it right I think you will have an opportunity for flat $7. Best chance is to move corn +$1.80 and wait on futures, IMO anyway. There are still some wild moves to come in the cash grain market the next 4-5 weeks. Contrary to what some lead you to believe the midwestern end user doesn't have enough coverage to get him to NC. Flat price has incentivized use. Massive southern corn movement northward will not save the day. Basis will not likely crater in August without a substantial rally in flat price. | |
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Basis Cliff
