WHITE HALL, MD – Mid-Atlantic corn growers are entering harvest with a strong local basis and better prices than they saw during planting. Certified crop adviser Ben Hushon with The Mill says harvest corn could recently be contracted near $5.64 per bushel in his area.
Hushon says that price is roughly $1.50 above levels available when growers were making planting decisions. He also says local basis was about $1 over futures at the time of the interview.
The strong basis reflects regional demand and the early stage of harvest. Hushon cautions that the premium may not hold as more combines enter fields and more corn reaches the market.
Early yield reports are adding another positive element. He says initial corn is running about 180 to 220 bushels per acre despite receiving roughly half of normal rainfall through much of the growing season.
Growers will be watching whether basis weakens as harvest accelerates. The combination of firmer cash prices and respectable early yields could improve revenue opportunities for some Mid-Atlantic farms.
Farm-Level Takeaway: Strong basis and improved harvest prices are helping offset some yield losses for Mid-Atlantic corn growers.