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The most-delayed U.S. corn harvest on record has split the Midwest market and reversed normal trade routes. Eastern farmers are holding back grain, lifting local cash prices above futures, while western corn is pulled east as a basis arbitrage opportunity.
Eastern processors and feeders face tight local corn supply, which supports cash basis there, while the flow of western corn to the east is an unusual logistics shift that could tighten feed availability in the east.
supplychainbrain.comBloombergNov 26, 2019After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
