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| Old crop basis continues to erode since the first of the year to the tune of $.45 all the way out past July. Seems like there is plenty of feed in the Western Cornbelt. Don’t think I would be comfortable holding old crop into the summer. Hope I am wrong. Sorghum is filling the ethanol plants, basis there has dropped more than $.70. Heard ethanol supplies are nearing record levels. Not much good news. | |
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Corn. Ouch!
