Utterback Marketing President Bob Utterback says farmers are reporting respectable early harvest yields. “We’re starting to get reports from farmers in many areas that got planted in early June. The corn yields are down about 10 to 15 bushels an acre, but they’re not a disaster like we thought in June. We’re still hearing reasonable yields, but the harvest is low.” Utterback says basis is the big story in the corn market. “Basis is exceptionally strong for this time of the year. I think farmers should be dumping the cash corn and not storing, but farmers are more bullish than that.”
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