Here in North-East Iowa the basis is running $0.20 to $0.40 cents positive. The ADM sweetener plants keep the others up in the market. $7.81 for Nov. today at the close.
What does the future months look like for your area?? The price maybe not much different but the basis should be better. You are still in the tail end of the harvest season now.
If you have the corn in the bins and do not need it to feed then I would be contracting the months with the best basis right now. This crop is a little better than many thought. It seems like short crops get bigger when the real numbers come in. In 1988 the high for that period was in late July through Early August. That was true this year too. I sold some for $8.50 then. That is the high so far.
The high price is doing what it is supposed too, limit usage. Plus it is encouraging planting. There are many areas that will be planting corn this year. Many of them not top producing area but still able to make it with the high prices. So I would not bank on these prices lasting very long.
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