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Record ECB crops pressuring basis

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A marketing analyst says farmers are holding on to more of their crops than normal and it continues to overshadow the market in the Eastern Corn Belt.

Angie Setzer is the co-founder of the grain marketing firm Consus.

“We’re looking at some big speculative pressure that’s been pushing this market lower and the idea that you’ll see those funds come in and buy,” she says.  “But there is a worry that with the burdensome amount of corn that’s on hand, or at least the large amount of farmer ownership that folks anticipate is out there, that that could kind of limit what we’re seeing.

Record ECB crops pressuring basis