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E.C. IA | I locked basis for last half July at -13. A month ago I suppose. Now they are at .08 under. This is ADM Cedar Rapids, the black hole where corn disappears. Thought I was doing OK then, the market tanked and basis got better. Oh well. I expect any market rally will be met with a equal loss in basis. FWIW the local CO-OP here still has a big (150,000)? bu. pile under a tarp. Near the ADM black hole. ADM has been running Saturday hours the last few weeks. Not normal here. But rumor is ADM grinds 800k a day at capacity. I expect basis to really tank after the 4th and farmers (like me) decide it is cleanout time. This info worth what you paid for it. | |
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Basis
