North Dakota, northwest Minnesota and northeast South Dakota will see more basis pressure this fall than the rest of the Cornbelt. “The soybean pipeline from this area into the domestic market and the world market is plugged,” said Frayne Olson, crops economist, North Dakota State University Extension. ” This will cause a lot of spillover effect on corn and wheat.” Olson is worried there won’t be enough storage space this fall. “There is an incentive this fall to store everything, but we can’t do that. There is more incentive to move corn out to the West Coast with nearly every train going that direction is filled with corn right now. They have a really good corn book on right now.” Corn was described as the “path of least resistance” with more focus on storing soybeans right now.
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