FARM BUSINESS NEWS
Newsom on the Market
Darin Newsom DTN Senior Analyst
Fri Jul 26, 2013 03:03 PM CDT

The world has changed since the close of the grain markets on Monday, July 22. Way back then -- what seems like an eon ago as we prepare to head into the weekend -- the U.S. was running out of soybeans, leading to a parabolic rally in August soybeans and soybean meal.

Yes, national average basis had been weakening of late with the DTN National Soybean Index (national average cash price, NSI.X) losing ground to the seemingly unstoppable rally in the futures market, but it is not unheard of for basis to move inverse (opposite direction) to the futures at ...

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