Strong basis levels continue to suggest a limited supply of grain in the country. “There were lots of corn and soybean sales last fall and there’s been some sales reaching at the $5 to $6 mark and now, farmers are selling for $7,” said Brian Hoops, president, Midwest Market Solutions. Famers may have missed out on some of the basis moves. “Producers have been astute this year about if they made cash sales, trying to get it re-owned and there’s reasons to think we should stay re-owned until the summer growing season,” said Hoops. “We are at a decent start, but probably not with record corn and soybean yields nationwide.”
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