Basis levels are crashing as the coronavirus pandemic
worsens.
Angie Setzer with Citizen’s Grain in central Michigan says bids at a local ethanol plant are indicative of what’s transpiring across the Midwest.
“Obviously with the significant drop in crude, I mean we’ve basically seen two to three black swans hitting the ethanol industry. So talking to the ethanol producer, they backed their bid off from a week ago another 20 cents.”
She tells Brownfield farmers anxious to move corn out of storage are frustrated.
