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Storage Hedge Unattractive For Farmers This Year
Kansas State University agricultural economist Bill Tierney says storage hedges offer little value amid weak carry in corn futures and high basis, making on farm storage financially unattractive. He notes the July 2003 to December 2002 spread and strong local corn basis in Garden City at 18 cents, the highest in 19 years, yielding small or negative net returns after costs. Tierney also cites soybeans facing a similar, unprofitable outlook due to an inverse futures market and stronger basis.
MENTIONED IN THIS ARTICLE
Kansas State University
Bill Tierney
Tierney
Chicago Board of Trade
Garden City
Kansas City
USDA
Midwest
High Plains
St. Joseph