| tmrand - 5/21/2023 09:30 And on top of that........insurance pays out on the CBOT price. Not on the local +$2 basis. So it's much better to have the corn than the insurance check in our situation.
Yes
It really sucks to raise a poor crop and get paid CBOT price for insurance only to use that money to buy physical corn for a + basis to feed livestock. That's the exact situation that the 2022 crop put us in.
If you want the trifecta of crappy situations, feed that $7-8 corn to hogs and effectively turn it into $1 corn. At least with beef you're getting paid for your feed right now.
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Why would farmers store Corn when the market is inverted?
