Wide basis levels continue to hamper the cash grain markets. Cornbelt Marketing market analyst Sam Hudson is not expecting the basis to improve any time soon. “For corn and beans, it’s just going to continue to be a problem. It’s interesting, you still come across a lot of old crop beans, even from the 2016 crop, that are still out here in storage. You scratch your head at why. I think part of it is the weakness and basis within last couple of years, people waited for that to get better in the market to go up and it just never really has.” Hudson says traders are waiting to see where the soybean demand will come from. “We’re not really changing the whole demand landscape. It’s just going to provide a chink in the in the chain here and slow things down for us as far as movement overall.”
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