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US corn basis strengthened through November 22 as the harvest closes, supported by high ethanol production and farmers holding back sales. Iowa basis was about 19.87 cents under December futures, well below the five-year November average of 33 cents.
Farmers withholding grain until January tightens nearby cash supply and keeps basis firm, supporting local corn prices for feed buyers.
spglobal.comNov 23, 2021Not enough comparable past events yet for a historical read.
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.
