Corn basis: Basis bids around Decatur, IL were considerably higher during the April reconciliation period, compared to March 2023 and April 2022. Corn gluten meal and feed: Corn gluten meal and feed prices continue to decline, both seasonally and year over year. April CG [...]
The hike in corn pricing in 2021 lifted the net cost of corn (after accounting for the credit from selling several processing coproducts, such as corn gluten feed) to levels not seen in ten years, when the Corn Belt suffered a widespread, devasting drought. [...]
Corn basis: The average of Central Illinois basis bids for the August net corn cost reconciliation period was around +63, compared to +105 on average in August 2021. Bids as of mid-August had retreated from the very high values seen in early July, but bids [...]
The runup in corn pricing outpaced higher coproduct values, which led net corn cost to average almost $2.16 in December, up 2 percent from a month prior and up about 2 percent YOY. The coproduct credit averaged $2.35 in December, up 7 percent from [...]
The recent year-over-year growth in coproduct pricing supported the coproduct credit in March as the cost of corn fell to $3.85 per bushel (basis Decatur, IL). Futures during the March coproduct value reconciliation period averaged $3.65 per bushel, nearly unchanged from a year ago, [...]
