Tight Farmer Holding Buoys US Cash-Grain Bids

The reluctance of farmers to sell stored grain supplies keep the cash-supply line tight for end users. Some cash merchants are allowing early delivery of March contracts to cover February needs, says independent broker Dave Marshall. Meanwhile, strong export sales to China are keeping soybean-basis bids firm as Asian buyers accumulate inventories amid crop threats in South America. Private exporters reported the sale of 175K tons of US soy to China for delivery in the 2012-13 marketing year. Basis levels at the Gulf for February soybean shipments were 76-78c/bushel above March futures, unchanged from Tuesday.


SFNToday.com is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. SFNToday.com presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.

Leave a Reply

Your email address will not be published. Required fields are marked *

*