Mississippi River levels are causing basis prices to soften
Basis prices are easing along the Mississippi River as water levels continue to dry up.
Economists with the University of Minnesota Extension say the basis for corn at a loading facility south of the Twin Cities is a quarter below southwest Minnesota. On a normal day, those statistics would be flipped with Minnesota upwards of $0.25 less than the river.
They are also keeping a close eye on the rail labor situation but say producers are likely keeping grain in storage on the farm until the situation gets under control.