Grain Elevator Outlook 2018/2019

November 2018

Key Points

  • Trade disruptions and large fall crops have had the biggest impacts on grain markets so far this year.
  • The U.S.-China trade dispute has impacted soybeans most this year with carry widening and basis weakening significantly.
  • Corn and wheat fundamentals support basis strengthening this year, while carry in the future’s market will provide a reasonable return to storage.
  • Transportation costs are largely in line with historical averages. However, elevators heavily dependent on trucking will face diesel price and trucker availability risks.

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