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custar ohio | This basis strength has very little to do with 2019 PP. It has everything to do with poor yields in much of NWOH in 2020,
The corn wasn't here last year and it isn't here this year. Drive around NWOH. There are no piles. The lines at end users are non existent.
The E plants are raising basis levels and accepting wetter corn every day. They and the elevators are staying open late and on weekends (even Sundays) to draw every bushel they can.
All this in the middle to end of harvest. They are running scared. And now the V word is being tossed around.
And then there is bean basis. Hang on to your hat this winter and all of next year. There will be record bean basis in NWOH.
Spreads said to sell out of the field. Basis says store. Futures are the wild card.
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What's your local basis like?
