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Alliance Grain reports that corn basis weakened about half a cent in the prior week on softer demand. Export shipments are sluggish and ethanol margins remain negative, while basis in many areas is well above average.
Soybean basis strengthened on robust export demand tied to a record book of unshipped sales.
Weak corn basis and sluggish exports point to limited cash-market support, while strong soybean export demand supports soy basis. Storage and old-crop marketing decisions depend on whether the expected small 2019 crop lifts futures.
alliance-grain.comJul 22, 2019Not 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.
