U.S. harvest winding down
Now that the U.S. harvest is getting into its later stages, the question in the market turns to what is going to be done with new crop inventory. For the most part, farmers across the United States sold soybeans off the combine and are storing as much corn as possible. This was suspected to take place prior to harvest. As a result, basis values on soybeans started to tighten even during harvest as it was feared that once enough excess was sold farmers would store the rest of their production. Basis on corn has also held steady during harvest as buyers believe selling of that grain will remain light. The trade is also monitoring when the United States will export the newly harvested crops. River logistics issues greatly hampered exports during harvest with several groups...
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