Grain prices remain very strong going into the end of February. Van Ahn and Company market analyst Kristi Van Ahn has some concern about losing the strong basis levels. “We’re worried about softening basis for old crop. That’s one thing to be attentive about. If you don’t have basis locked down, be very careful about that especially when we get into a rallying market. Also, we tend to take away the carries, which we’re starting to do that now. Just make sure if you do have open contracts right now, you’re working on some basis levels.” Van Ahn says this market can reverse quickly. “Usually when the market turns, it takes no prisoners. We have managed money that are aggressively long corn, and they’re getting there in beans. Those are the worrisome things that if the market turns, it’s going to turn hard.”
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