Grain TV: Markets Focuing More on Private Analysts
With the USDA shut down markets are paying more attention to private analysts, who are predicting slightly smaller yields than USDA. Basis levels have been on the decline and are likely to continue lower as the late harvest pushes on.
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,