Basis matters now, say Midwest ag economists
Tight corn supplies might normally trigger a rally in the market, but so far, that hasn’t been the case. Despite strong demand and dwindling stocks, futures prices have stayed relatively steady. That’s because—while the numbers show a squeeze—markets may be confident that global and domestic harvests are close enough to ease the pressure. Joe Janzen, an ag economist at the University of Illinois, says the market is feeling the pinch. The USDA already lowered its estimate of last fall’s corn...













