By Jon Scheve, Superior Feed Ingredients, LLC
Dry weather is contributing to declining water levels on the Mississippi River. This could make it difficult for U.S. crops to remain competitive globally because it will drive up the cost to ship grain to the export houses.
The market continues to trade in a tight range while waiting for more crop conditions news. Crops under the most stress in key growing areas of the Corn Belt will be harvested first and will likely have poorer yields. Everyone wants to know how much better the later harvested crop yields will be, and if it will make up for the areas that suffered.
Splitting futures and basis sales
Last week I shared where I set my cash sales compared with prices since harvest as seen in this chart:
This prompted a question from a farmer “What would have happened if I had sold cash corn at the top of the futures market on May 16, 2022?”… Continue reading