Marketing Comments
July basis contracts must be rolled or priced by the close of business tomorrow. We highly recommend you do what you must do to meet cash flow needs and stay long corn and beans.
The market is trading rain makes grain. True, but the market is miss-judging the big weather picture, nitrogen loss, compaction of the muddies in crops, and, as always, the market has overreacted because the anticipation of an event will move the market more than confirmation of an event. The corn crop will not yield 181 bushels per acre, which is what USDA expects.
Corn and beans in the bin: basis continues to firm in most areas. If you can afford it, leave it in the bin. If you need cash, consider this options: