Grain TV: Strong Downside Risk in Corn Basis
Ethanol crush numbers declined for the third week, mirroring a decline in corn basis levels. Growers may want to clean out the bins of any remaining old crop corn as there’s strong risk of the downside continuing. U.S. wheat is showing uncompetitive on the global market and prices are expected to stay depressed at least until the September WASDE.
This week’s news in agriculture from Agfax Media.