MARKETS NEWS
Drought Persistence in Corn Basis
Bryce Anderson DTN Ag Meteorologist and DTN Analyst
Fri Jun 21, 2013 11:43 AM CDT

OMAHA (DTN) -- The record drought of 2012 is not over. A look at cash corn bids across the U.S. will tell you that. Record-high cash corn basis bids were reported this week in New Orleans, where corn basis bids for loaded barges at the mouth of the Mississippi River traded at 120CN -- one dollar and 20 cents over the July 2013 futures contract. That figure was said to be the highest basis level on record for this time of year, according to DTN Cash Grains Analyst Mary Kennedy.

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