About That Corn Basis Anomaly ... Can USDA Keep Hiding Losses? [RFC]
Nobody Governs Truth. The USDA has, however, kept the market focused on their top-level reports, while a different story can be found on the ground. Christian breaks down the current corn basis anomaly and asks in today's Request For Comments: What are you seeing in your neck of the woods?
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Current US corn basis map: https://www.dtnpf.com/agriculture/web/ag/markets/local-grain-bids
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The corn is there despite it being an overall decrease in the area's on the map. It was one of the lowest growth seasons since 2015 but it still met it's above trade expectations which caused the prices to drop as traders were expecting a shortage that naturally would have saw pricing demands rise. What production they didn't get out of the states highlighted was made up for by Texas, Maryland, Missouri and especially in Kansas as these states produced above average crop yield expectations. North Dakota will likely do an insurance claim after an analyst this spring of whether any of their crop left in the field is salvageable.