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Old-crop corn piles are reappearing across parts of the Corn Belt as elevators haul remaining stocks off to make room for the new harvest. The USDA projected about 2.3 billion bushels of old-crop corn carried out of the 2016-17 marketing year, ahead of a 14.2 billion bushel crop estimate.
Large carryover stocks and storage pressure weigh on cash corn prices until the new crop is moved. The piling reflects weak basis that discouraged earlier farm sales.
dtnpf.comMary KennedySep 25, 2017Not 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.
