By Jon Scheve, Superior Feed Ingredients, LLC
Last week’s USDA report showed 10% less carryout than the trade expected for the 2020 crop. However, it was still 3.3 billion bushels, which is concerning. In the last 33 years, the highest final carryout level ever reached was 2.3 billion bushels. While some farmers may have switched corn acres to beans, or other spring crops, it’s unlikely to be enough to offset 1 billion corn bushels.
Setting basis and leaving futures unpriced
This week a couple farmers across the country discussed setting basis levels in their area and moving grain sooner than later. Here are some issues to consider before setting basis for May, June or July delivery without first having futures prices locked in.
Willing to set futures price by June 29?
First, a farmer needs to decide if they are willing to set their futures price on this trade by June 29.… Continue readingRead More »