East Central SD | Export basis sets the pace. IMO expect domestic processor basis will not to hold up as we move forward. As far as trickling down to the local elevator, IMO currently, I would say that the local terminal tributary to the PNW is still covering previous sales on the books, when those are covered expect basis to widen quickly. Beans are typically the commodity the farmer moves, at least in my area, so it would not be unusual for the elevator to be short basis harvest beans in anticipation. |