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Ohio grain facilities filled storage to capacity this fall after record corn yields and a long harvest delayed by rain. Some facilities limited receiving days late in November.
Basis levels for corn and soybeans had already firmed by the end of November, and producers were expected to sell grain in December to free bins.
Full storage and farmer selling in December add near-term pressure on cash prices, while firming basis reflects strong local demand for harvest-time grain. Record corn yields keep the national supply picture ample.
ocj.comBrianna SmithDec 11, 2017Not 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.
