Marketing Q&A: Corn Pricing
"I have 45,000 bushels of 2023 corn left to price. With some -30 and some +0 basis, and after roughly two 20 cent rolls puts me in a bad spot with current March prices. I obviously should have sold it a long time ago, but now that I have rode it out this long, I would like to know your opinion on when I should just get rid of it, or let it roll again hoping the price finally goes up enough to at least help with the losses I've already had. I am open to advice. Thanks."
Good morning, Brad.
CONAB (Brazil's USDA) will issue its updated crop production report today and the USDA will issue its updated reports on everything on Friday at 11 AM Central.
We do not expect bullish news for corn, but most certainly do not expect bearish news. If there is a surprise, it will be bullish. We can reasonably expect some increase in corn demand, ethanol crush or exports or an increase in both is a reasonable possibility. That would not start a massive rally, but it would get more people paying attention to demand.