CoBank reports the US is bracing for a record 21.5 billion bushel harvest of corn, soybeans and grain sorghum this fall. It warns of a 1.4-billion-bushel shortage of upright storage in top corn states, forcing reliance on ground piles and higher merchandising fees.
Tight US storage and higher handling costs can widen basis and push farmers to sell at harvest, weighing on nearby cash corn, soybean and sorghum prices while raising logistics costs for feed buyers.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.