As corn harvest continues to plug along well behind the normal pace, basis levels are taking different paths at ethanol plants and all other corn-buying locations. One of the main reasons for this difference is that ethanol plants aggressively bought early harvested corn, hoping to secure enough feedstock to run at full capacity over several weeks. So many of these plants have comfortable operating stock levels and are able to weaken bids just a bit. Most ethanol plants are unable and unwilling to dry corn down, although some plants are willing at take slightly elevated moisture levels. This has provided ...