Posted by fixerupper on June 24, 2019 at 07:51:38 from (100.42.82.185):
In Reply to: Markets--Wow posted by big tee on June 24, 2019 at 06:21:32:
Here in northwest Iowa we have the widest basis in the country because of distance from the Mississippi , the gulf and the west coast so our basis was always wider than anyone else. The basis has narrowed some because of ethanol and feed demand but we are still farthest away from the export markets. The best price I received for corn was $7.64 at the local chicken farm. That corn came from a field two miles away from the chicken farm so the trucking bill was low and the chicken farm was offering free price later storage at that time. That's a deal that is hard to beat, truck it two miles and have free storage. I could have had five cents more from the ethanol plant but the ethanol plant is a little farther away, involves more stop signs and turns and usually means a long wait in line. The scene has changed drastically from the days of hauling to town with a Deere A pulling 300 bushels hauling away from a Deere 45 combine. Back then the only grain market in this area was the closest elevator. We were forced to receive whatever price the elevator chose to post. Today with better roads, semis, ethanol and feed mills competing for the same grain we have more choices for markets. Today I get occasional calls from a couple feed mills with a good bid above the ethanol plant bid. They usually call when they think grain will keep going up and they want to get some low priced grain locked in. We never used to get calls begging for our grain like we do today.
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