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Red River Valley | one could not tell what their coverage with any amount of certainty but I think one can at least look at some possibilities
Possibility 1 - they are only concerned with today and not 3 months from now
Possibility 2 - deferred ethanol will not allow them to pay any better in June- July at this point
Possibility 3 - they have a lot of corn sold to them from farmers on HTA for the JJA time frame
Possibility 4 - they have there belly full of JJA basis contracts
Possibility 5 - They are willing to gamble at this point that a tin can harvest will come once the crop goes in the ground
Possibility 6 - They are screwed and the Farmers is going to have his way with them in JJA
One thing that I am certain of If they start to widen basis for the JJA time frame like is happening at the shuttle loaders around here I would bet on it being #2,3, or 4
edit for spelling
Edited by Tara Farms 2/4/2014 20:37
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end users might start singing a different tune
