As farmers move towards wrapping up their 2023 harvest, and look ahead towards next year, Cody Forde with River Valley Cooperative gives a look back at what October brought in the local grain market..
“In the October time frame here as we’re wrapping up the month, we’ve watched beam bases so bases both at the Illinois and the Mississippi River appreciate and value. We were seeing values down in the 70s, so 70 cents under the Board of Trade during most of the first part of October, explained Forde. “Then as the river level started to come up a little bit on the Mississippi. We started to see the bid get even better. So we went back to what would be considered a really historically tight basis law level for soybeans, where we’ve seen river values get back to the 15 under area, which is a very aggressive number, especially with our carry-out situation.”
Forde adds that as we head into November, some things to look out for are a building export market and ethanol markets to hold up.
