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USA | Dec 08 and 09 corn are $4.22, Dec 09 $4.23. Roll to Mar 09 , 10, and 11 for 12 cents. You can get $.57 premium for NGMO corn at STL for 08 corn. Not too hard to get a basis of 10 over Mar at STL for Jan- Feb delivery.
$4.22 + .12 +.10 +.57 = $5.01. I would expect NGMO premiums for 2009, and 2010 crop NGMO corn to be even more than what is being offered for 08 crop.
Currently at STL Mar 08 is $.16 more than Dec 07. Basis for Jan delivered corn is $.08 over Mar., Feb $.09. Before the end of the year I would expect a person will have the opportunity to set the basis and NGMO premium at $.50 over Mar 08 for delivry in the Jan - Feb 08 time period for 07 crop NGMO corn.
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Rents Going up and up and up...........
