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Post by wheatfarmer on Jan 20, 2012 17:42:45 GMT -5
I should add, my grain seldom is the elevator more than 4 months before it is sold. Use calls to get benefits of any up swing and 30-40% is usually sold ahead on contract. Pick up some the profits possibly seen in storing grain without all the cost of storing grain.
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Post by johnwayne360 on Jan 20, 2012 18:00:30 GMT -5
ok..this is getting interesting already. Basis is now +.20 for aug at 5.96. up .12 in just the last couple days.
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Post by Hobbyfarmer on Jan 20, 2012 19:17:31 GMT -5
Yesterday -10 This morning -8 tonight -7
(corn)8+ months till harvest starts here...hmmm
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Post by eddiedry on Jan 20, 2012 20:17:54 GMT -5
Local basis about 45 miles south of here; www.farmersupply.com/index.cfm?show=11&mid=3&theLocation=3&cmid=all&layout=19CORN USDA has adjusted the calculations of LDP data. Click here for more information. Delivery Cash Price Basis Futures Month Futures Price Futures Change by Feb15 6.42 0.30 C2H 611'4s 5'4 February 6.37 0.25 C2H 611'4s 5'4 Aug/Sep 5.61 -0.15 C2U 575'4s -3'2 SOYBEANS USDA has adjusted the calculations of LDP data. Click here for more information. Delivery Cash Price Basis Futures Month Futures Price Futures Change by Feb15 12.22 0.35 S2H 1187'0s -10'0 February 12.15 0.28 S2H 1187'0s -10'0 Sep/Oct 11.91 0.07 S2X 1183'6s -10'4 WHEAT USDA has adjusted the calculations of LDP data. Click here for more information. Delivery Cash Price Basis Futures Month Futures Price Futures Change by Feb15 6.31 0.20 W2H 610'4s 4'6 February 6.33 0.22 W2H 610'4s 4'6 June 6.49 0.05 W2N 643'6s 4'6 MILO USDA has adjusted the calculations of LDP data. Click here for more information. Delivery Cash Price Basis Futures Month Futures Price Futures Change Aug/Sep 5.27 -0.25 C2Z 551'6s -5'2 Price as of 01/20/12 07:15PM CST. Select the futures or basis month to view Futures contract information.
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Post by jeremeyfrost on Jan 20, 2012 21:58:20 GMT -5
corn price today 5.68 basis -.25 corn price july 5.77 basis -.28 corn price aug 5.78 basis +.08 corn price oct 5.08 basis-.41 odd..at least to me that basis is positive yet cash bid roughly the same..Why would one month have a positive basis then turn back way negative..Im new at watching basis levels so tell me if im being dumb on this one. aug basis is positve because it is being quoted against the sept futures............which is inverted to the july oct basis is unders because it is new crop..........so buyers think that supply will be plenty..........overtime that spread will come together.........primarly with old crop basis weakening after coverage happens..........but new crop basis should firm up a little as those spreads come together if we have as tight of balance sheet as some think..........the spread might not come together until sept or later.........
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Post by Hobbyfarmer on Jan 20, 2012 22:48:04 GMT -5
JF: +1, do not be a stranger on here.
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Bristol Hillbilly
Hired Hand
Sentinel aka "Bouncer"....Sitting by the door....
Posts: 215
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Post by Bristol Hillbilly on Jan 21, 2012 7:58:12 GMT -5
Yes thank you wheatfarmer So in other words you are screwed due to geography.
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Post by Rich© on Jan 22, 2012 17:45:29 GMT -5
Yes thank you wheatfarmer So in other words you are screwed due to geography. Exactly. If we were closer to a terminal or a barge to load... Be an entire different ball game.
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