Soybean basis at Agtegra in northern South Dakota is at par with the futures contracts for April, May and June delivery. BOLT Marketing market analyst DuWayne Bosse says a combination of prevent plant acres and the AGP crush plant depleted the soybean supply. “We knew when AGP was built in Aberdeen that eventually demand would pick up. Last year, northern South Dakota had a lot of prevent plant and that’s why the basis is at par. There’s just not any crop left.” The job of the basis now is to draw soybeans from outside the immediate area. “Higher prices and better weather will eventually shake things out.”
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