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DTN reports that the national average soybean basis has risen above its five-year average for the first time in over two years, as of October 23. The improvement follows a long period of weak basis tied to the lack of Chinese export business during the trade war and the 2019 Mississippi River flooding.
A stronger basis raises the cash price farmers receive relative to futures, signaling improving export demand and firmer soybean and meal values at the local level.
dtnpf.comMary KennedyOct 28, 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.
