Historically, the North Dakota farmer has a lot of wheat on the farm, but the Arthur Companies General Manger Kevin Karel says that’s not the case this year. “North Dakota’s on farm wheat stocks at the end of August is 99 million, down 56 percent from last year. The other interesting thing to note is the off-farm stocks, at elevators like mine, stocks are up 18 percent. We’re holding about 99 million bushels as well. Historically, that’s very unbalanced.” Karel says that will play into basis and spreads throughout the winter and how millers will try to extract North Dakota’s wheat.
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