Posted 7/11/2019 17:54 (#7609240 - in reply to #7609167) Subject: RE: Interesting
Harvest basis is definitely weaker than nearby here, but if I am an end user in an area that looks to be a deficit I would want to lock it up now vs waiting to see what happens this fall. But maybe I am looking at it wrong. I thought we had a lot of old crop around here but basis is getting better by the day. That could be a function of the better basis to the east or west pulling corn that way but I am starting to wonder. Local feed mill has (3) 1MM bu bunkers only filled half of 1 last fall with a pretty good crop.
We might have a huge carry over, I don't know. All I know is that basis is getting pretty good in areas that had a really good crop last year according to the USDA.