Tidbits, Q&A: Soybean Marketing, Corn Basis, Soybeans of Colors, Wheat Tenders 10/18/26
Tidbits
The national average corn basis improved after the S&D a week ago yesterday. The December-March corn spread narrowed the day of the bearish Crop Production Report on Friday, 9 October and every business day since then even though December corn lost 5½¢ this past week. The carry (return to storage) is supposed to increase when futures move lower. The Dec to Mar carry was 15¢ on the close 8 October and it is 12¼¢ now which any seasoned grain storage person will read that message as Pro Farmer’s Lane Akre does: “a supply-constrained market, not a supply-abundant market.”
Pro Farmer is holding its own carryout projection at 1.459 billion, relying on its own lower yield estimate. Pro Farmer is holding its Crop Tour yield at 173.2 against USDA’s 181.2.
Dr. Michael Cordonnier is 1.2 bushels less than USDA at 180.0 and he expects to trim in November or January as more acres are harvested.
Note: there will be USA crop production reports from USDA in November and January, but none in December even though world production will be reviewed.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
