The theme continues, stronger cash basis despite a lack of “extra ordinary” demand, but lack of grower or shipper engagement. We have said this for weeks, wheat is put away and the focus is on row crop harvest. Growers don’t like the flat price, despite the rally, and shippers are only loading existing sales. The…
Category Archives: 2019
U.S. wheat cash basis remains strong
The cash basis remains strong across all markets as harvest delays, logistics and lack of transportation forcing exporters and domestic mills to push their nearby bids. The river system is basically closed down. This is forcing exporters to buy/ship more expensive trains and shippers who have barge commitments have to substitute more expensive trains to…
