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Corn basis levels at the Gulf of Mexico have firmed up, Steve Freed of ADM Investor Services said. “Some people believe they are firming up due to a lack of corn in the pipeline, but others think it could be business shifting to the U.S. from Brazil.”
Corn markets should expect “choppy trade” on weather and slowed export demand, CHS Hedging said. Despite the negative export sales this week, it comes in above expectations.
