Grain merchandisers are beginning the new-crop growing season facing significant challenges. A new report by CoBank released Wednesday says low price volatility, ample grain and oilseed inventories, slow farmer selling and an anemic export program are all factors pressuring grain merchandisers in the United States. A CoBank researcher says that while many grain elevators have solid balance sheets thanks to multiple years of strong revenues, “pressure for consolidation will likely intensify”with slimmer profit margins. The grain and oilseed basis markets continue to remain stagnant, offering limited opportunities for elevators to profit on old-crop basis appreciation. However, grain elevators could still stand to profit by year’s end off the opportunity to buy wider new-crop basis post-harvest, according to the report. Further, the report says that a growing concern among co-op managers is the availability of storage space this fall.