Cody Harris, market analyst and trader with Star of the West has a telephone that won’t quit ringing. With March corn futures trading around $3.90/bushel, with cash prices holding up the futures.
“With these cash corn prices, many parts of the country are finding stronger than normal basis after tough and persistent weather challenges throughout the growing season,” he said.
In addition, the USDA will release its WASDE report on January 10.
“That’s going to tell us if the situation they surveyed back in December matches the 13.66 billion bushel estimate they currently stand by now,” said Harris.
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