Cornbelt Marketing market analyst Sam Hudson says even though harvest progress has been slow, the pipeline is filling up causing harvest pressure. “Something I’ve been discussing in the last few weeks is the fact that basis levels were incredibly good in August and September, before the new crop started rolling out,” says Hudson. “Farmers took advantage of that in moving corn off the farm, but it may not have been sold. It may have been a basis only contract. There is still lots of leftover old crop that’s going to be sold or rolled against the contract. That’s keeping the thumb on the market.”
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