Posted 7/10/2019 06:56 (#7606452 - in reply to #7606348) Subject: RE: Who has an abnormally good basis?
Farmspec - 7/10/2019 05:37
Basis is typically local and many factors contribute to its level. There is an unusual factor this year. This Crop is going to be so late, that the 2018 Corn Crop will have to carry us 13 Months rather than 12, thus a very low carry out before new supplies replenish.
Yes we’ve been blessed with early crops the last few years even with the minor problems. We don’t have to go back far in history to see what could be an outcome, 09 big production,10 and 11 decline a bit then the nail 12. We had plenty of carry then too. Demand follows supply, demand will have to be curbed as this looks to be no small event, antidotal is what big G keeps doing to ”help us out” . Forage crops on pp and early harvest on those acres? I’ve seen the planted on some, oh boy. Mfp on pp, what’s that? Insurance bump up possible, lol! Government is reactive, not proactive.