We have higher board values today and a crop report tomorrow. Milk prices were up decently on Friday with a little follow through today. The most significant thing to report on cottonseed is that ADM is the highest bid in all origin markets, by $15 per ton. The crush is good for now and ADM is able to pay more than what works to the dairy. Replacement values at origin are a negative $15 per ton margin relative to the destinations. So, basis replacement, destination values will be higher in the weeks to come.
Please call to discuss further.