The US is not running out of corn supplies. I don’t know how to say that more clearly than I have.Still, the recent firming of national average basis and weakening carry in the July-September futures spread indicates 2023-2024 Q4 demand is picking up.Technically, the new-crop Dec24 futures contract opened the door to a possible extension of its long-term downtrend at the end of May.Roughly 20 years ago, when I moved to Omaha from central Kansas, or in other words from the Wheat State to the Corn Belt, I learned that when in doubt about what to discuss, write about corn. Why? Because that’s all…