A combination of harvest pressure and market uncertainty continue to impact basis, and current levels are signaling farmers to store grain. In northeast, North Dakota, Dahlen Farmers Elevator manager Mike Kratchovil says product has been hard to move. In addition, it’s hard for farmers to profit with local soybean bids hovering around $6.50. “It’s not a bumper market. Right now, we’re at $1.90 for soybean basis, so farmers are going to have to find bin space and hopefully the markets come back.” Kratchovil says no delayed price storage options are being offered at Dahlen Farmers Elevator, as well as several local elevators. “A few to the east are offering some storage programs, but I imagine that will get swallowed up pretty quick. A lot of the wheat and canola went to the bins, so space is tight.”
Hear more in this interview.