Charlie,
I have to chuckle as I read this:
A Weekly Update From Your Friends at the Red River Farm Network
Monday, July 11, 2011
Strong Basis — The corn basis has strengthened since the sharp decline in the futures market. Money Farm President Mike Krueger says feedlots and ethanol plants are having a difficult time trying to buy corn. “Traditionally, in parts of western Kansas and down in through Oklahoma and north Texas, the feedlots had a buying radius of 50 to 60 miles to buy corn, they’ve been having to double and sometimes, triple that mileage," said Krueger, "We know of ethanol plants that are railing corn in a long, long way by shuttle train; first time that’s happened since some of these plants were opened, so as much corn as the government says is out there, then farmers certainly locked the bin doors and just aren’t going to sell after this steep price break.”
I have to chuckle as I read this:
A Weekly Update From Your Friends at the Red River Farm Network
Monday, July 11, 2011
Strong Basis — The corn basis has strengthened since the sharp decline in the futures market. Money Farm President Mike Krueger says feedlots and ethanol plants are having a difficult time trying to buy corn. “Traditionally, in parts of western Kansas and down in through Oklahoma and north Texas, the feedlots had a buying radius of 50 to 60 miles to buy corn, they’ve been having to double and sometimes, triple that mileage," said Krueger, "We know of ethanol plants that are railing corn in a long, long way by shuttle train; first time that’s happened since some of these plants were opened, so as much corn as the government says is out there, then farmers certainly locked the bin doors and just aren’t going to sell after this steep price break.”
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