Market Matters Blog
Katie Micik DTN Markets Editor

Thursday 09/26/13

Corn Barges Continue To Move Up River; Basis Moves Lower
Basis has been in a downward slide as it faces a possible record harvest with better-than-expected yields reported so far. Even still, there is demand for corn in areas where harvest has yet to progress and many processors sourced new-crop corn from the south.[Read Full Blog Post]
Posted at 2:05PM CDT 09/26/13 by Mary Kennedy | Post a Comment
Comments (1)
Hard red winter wheat could be heading for a double digit ending balance. This projection would place ending stock for this class of wheat at the lowest level in the last forty years. Price rallies will be limited by the current production estimates of hard red spring wheat in the US and Canada. Domestic durum supplies will need additional supplementation from Canadian production to meet our projected use. Soft red winter wheat might see ending stocks for the 2013-14 marketing year near the level of 2012-13. This is somewhat higher than USDA's current projection. All in all this would appear to be supportive to wheat prices. Corn may benefit as well with potentially more acres switching from corn to wheat. If KC wheat price does not move high enough to attract more acres to be planted this fall then Minnesota wheat might have a "fun" this spring. USDA will provide their outlook on wheat in the October WASDE. Freeport, IL
Posted by Freeport IL at 12:49AM CDT 10/01/13
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