The corn market has experienced a sharp decline in prices in the last month. As a result, farmer selling has ground to a halt. We still have alot of old crop corn on the farm and on price later that will be sold prior to harvest. Many of you are waiting for a bounce in prices before selling these bushels. Because not many farmers have been selling, processors have strengthened their basis values over this past month. For those of you waiting to sell old crop bushels, do you think if corn futures rally 30 cents, that farmer selling will increase? If yes you can expect that basis levels will weaken. One of the most frustrating realities of farmer marketing is that a 30-cent rally in futures may only translate to a 20-cent rally in flat price values. That would be the case if basis widened or weakened by 10-cents in this example. The average posted corn basis in NW IA is 12 cents better than last year at this time. Basis levels are very good. It may make sense to lock in the basis portion of your cash price today, prior to strength returning to the futures markets so that you don't watch 10 cents of the 30-cent rally go down the drain in basis.We are offering basis contracts on corn vs. Sept 18 futures. You can lock in basis today, and wait to set the futures portion of your cash price. We will give you until 8-24-18 to set the futures portion of your cash price. Please reach out if you have any questions or if you are interested in executing basis contracts on old crop corn you have on the farm or on price later.