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Grain storage is at a premium in the western Corn Belt due to a record crop, low grain prices and wide basis linked to the US-China trade war. Soybean basis in Nebraska is historically wide, with some elevators halting bids and deferred contracts.
Wide basis and storage shortages depress farm-gate prices and disrupt cash grain flows, while trade uncertainty keeps soybean export demand weak.
agweek.comMichelle Rook, AgweekTV AnchorSep 24, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
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.
