date:Jul 30, 2014
differences are especially large this year as cash bids reflect a tremendous variation in storage capacity, expected crop size, and transportation issues. In central Illinois, average harvest bids on July 25th were $0.31 under December futures.
With a July-December spread of nearly $0.27, the average harvest bid was $0.58 under July 2015 futures. If that basis is near $-0.10 in mid-June 2015, as it was this year, then the market is offering about $0.48 return for corn that is hedged and stored