USDA Blindsided the Market. Now Watch the Basis.

A surprise USDA yield increase knocked corn lower, but the next clues may come from local cash markets. In this short Hedge Heads episode, Jon and Ryan discuss what basis and spreads could reveal about actual grain supplies, where opportunities may develop in a range-bound market, and the risk of funds heading for the exits. Plus, a quick look at cattle as tight feeder supplies and competing market pressures set up a winter tug-of-war.