As Thanksgiving approached, the corn basis in eastern Nebraska was 80 over December futures and in western New York, it was 30 under December. A normal basis in eastern Nebraska over the last few years has been 50 to 70 under, and in western New York, 30 to 70 over. About the time you think you’ve seen everything you’ve actually seen nothing.
This has made for a very challenging environment for livestock operations in the western Corn Belt. Paying such a premium is hurting bottom lines and more important, just securing enough corn can be a challenge. What happened? A good comparison…
