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SC Iowa | expect corn in the north country to play a game of leapfrog......first farmer sells his corn 100 miles away to escape local basis and pick up something for the effort, but that leaves the guy in that farther downstream market eventually in a pickle...so HE sells corn 100 miles down the system......and in the end, we (Eddyville) end up buying corn another 50-75 miles NW of our normal draw area mid to late summer...
IF folks stay committed to the big change in N Dakota corn acres, and they have good storable corn, they really need to think about hedging this old crop corn and carrying into the spring/summer of 2015.......which means building space, but the state apparently needs more on farm space anyway.....
changes in storage and behavior get put in place at market extremes......$5 propane had folks questioning how full they wanted to fill their tanks --today--- and these buck under basis levels have folks looking for short and long term solutions....
Ray J | |
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BNSF Chief says northern rail congestion to continue "throughout the year".
