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Central Illinois | Two different scenarios are in play here. The country elevators that bought it last fall appropriately discounted the corn at the discount schedule then. I think they thought they could blend it off, but never got enough good corn to do the job, plus you are correct that a lot of it went downhill over winter. Terminals that would take corn this summer typically discounted corn an additional 10 cents over 5% damage, and tripled or quadrupled the discount schedules from last fall, so a lot was bought for about a $1.50 per bushel. One neighbor told me he couldn't even get anyone to take 5,000 bushels. I was too embaressed for him to ask how bad it was. | |
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Adding fuel to the fire
