The Corn Crop Is Growing Bigger, but the Oil Crop Basis Is Still Firm

Corn basis is firm, but there is harvesting going on down south and so the expectation is that the oil crop corn basis probably will start to weaken here anytime. So for farmers that still have oil crop corn and beans, getting basis locked in is probably the right thing to do before basis starts slipping further into those new crop values. The rains here in August have really improved the optimism of the trade that there will be a crop to store.