Reminder that there are no markets today in observance of the Presidents Day holiday.
Producers should be actively monitoring and moving grain in their bins this winter due to quality issues that are going to make this crop one you DO NOT want to store very long. There are still some very good basis levels trading for corn delivery into the spring months. There is very little carry in the market which indicates that now is the time to be making cash sales. Commercial elevators are aggressively selling to end users due to the lack of carry which is going to cover demand and widen basis. Basis sales for June and July are also advised as I expect these levels to widen out after we get this year’s crop in the ground. New crop prices are at very attractive levels ($3.65-3.85 range) for fall and beyond. If we get anywhere near the acres planted that producers are planning this spring, these levels will evaporate quickly.
Have a Safe Day!