The lack of an export market out of the Pacific Northwest is causing soybean basis levels in the Northern Plains to widen to $1.50 to $1.70 under November futures. North Dakota Grain Dealers Association Executive Vice President Stu Letcher says grain elevators don’t have many options for moving soybeans. “They have some forward contracted soybeans they’ve already bought. They’ll likely take that and move it.” Letcher adds other grains may be a different story. “Without a clear road ahead, there’s some hesitation to do more than take the grain they’ve already purchased.”
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