Basis, crude prices worth watching
When it comes to the markets, one analyst encourages growers to watch three things: spreads, basis and the price of crude.
Merrill Crowley with Crowley Commodities in Watseka sees good support for prices long-term. He says to watch your spreads, which we have seen narrow. Also, basis has been improving in areas where corn harvest is finished, but things are different in areas where harvest is running behind. Crowley is keeping a close eye on crude oil prices as well.
“Crude strength is helping the corn market and ethanol prices,” Crowley told The Central Illinois Farm Network Thursday afternoon.
Crowley is pleased with the fact that we have held our lows from August and beans appear to be making a “bullish” move.
“We are having good demand, at least at present,” he said.
Crowley Commodities can be reached at 815-432-2220.