The current strong basis is unusual for harvest time. “It’s notable because this is happening at a time when we are getting our export market back; it’s a good signal for demand all the way around,” says Sam Hudson, market analyst, Cornbelt Marketing. Hudson doesn’t think the Gulf Coast export shutdown will have a lasting impact. “The first one-to-three weeks we were delayed can be made up in a week or two of normal circumstances, but altogether, China is going to import a lot less from us this year than last year.”
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