Large soybean export inspections indicate a good export pace out of the Pacific Northwest. Global Commodity Analytics and Consulting President Mike Zuzolo says beans are still finding their way down the Mississippi, too. “We are getting more barges down the river with soybeans, probably at the expense of corn and wheat, but we’re also getting more out of the Pacific Northwest.” Zuzolo says Northern Plains basis levels have remained stable in the face of widening basis at river terminals because of the PNW movement. “It’s a blessing in disguise for your area to get a better profit per acre on what you’re currently combining. As far north as Cincinnati, we’re still running about a $1.25 under for corn. The last three months, we’ve seen about a $1.50 swing in the upper Ohio River, so that’s something to watch to see if it migrates north.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.