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Grain market economist expects an “early” harvest low

Grain markets typically trend lower during harvest.

And University of Minnesota grain market economist Ed Usset says he expects that trend to continue.

“We think of harvest lows (and) think of prices going lower, and if you look out at new crop bids for soybeans and corn, that’s going to happen. You’re going to get widening of the basis (and) get harvest lows.”

He tells Brownfield what’s less certain is the timing.

“We’ve come down so hard, particularly in the world of corn and spring wheat, and I wonder if we won’t have an early low. That’s what I’m wondering.”

Brownfield spoke to Usset during the University of Minnesota’s first ever Soybean Research Center Field Day Thursday.