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DTN reports that US corn basis is about 15 cents stronger than a year earlier in mid-December 2019. The strongest bids are in the Eastern Corn Belt, where Ohio buyers are posting +40 over March futures, well above Western Corn Belt levels.
Strong eastern basis signals local short supply and will pull corn toward Eastern Corn Belt buyers, supporting cash prices there. The unusual spread between east and west may change grain movement patterns through 2020.
dtnpf.comElaine KubDec 18, 2019Not 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.
