Early corn harvesting in Arkansas and southern Illinois pressures cash markets and futures prices, says Karl Setzer of MaxYield Cooperative. Arkansas isn't a major producer but its yields have been extremely strong, while in Illinois the corn being sold on cash markets is likely a combination of old supplies and freshly harvested corn, he says. For both, start of harvest is adding pressure to corn basis levels that've already fallen in recent weeks. "We've probably lost a good 30 cents in basis here in corn in the past month," Setzer says. CBOT September corn down 4c at $8.02 1/2 a bushel. (owen.fletcher@dowjones.com)

Call us at (212) 416-2181 or john.shipman@dowjones.com

(END) Dow Jones Newswires

August 01, 2012 11:01 ET (15:01 GMT)