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SE MN | 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. | |
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market turns
