(The Crop Site) – US – Both corn and soybean basis saw little movement over the holiday-shortened week.
Corn basis averaged a one-cent advance for the week while soybean basis was unchanged. Corn saw some strength from ethanol plants last week as producers bid up corn basis by 5 to 15 cents at key plants throughout the Western Cornbelt. Some plants were noted to be offering push deals for larger volumes.
On average, ethanol plants were up 1.5 cents for the week. At river terminals, corn basis also found some strength as average basis levels there gained 2 cents a bushel.
On average, ethanol plants were up 1.5 cents for the week. At river terminals, corn basis also found some strength as average basis levels there gained 2 cents a bushel.
For soybeans, basis levels were unchanged last week. But, weakness at soybean crushing facilities was fairly widespread.
On average, plants lost 1.5 cents for the week with some double-digit losses noted in Minnesota.
On the river markets, basis levels were mostly unchanged but there were pockets of strength were more typical along the Ohio River.
On the river markets, basis levels were mostly unchanged but there were pockets of strength were more typical along the Ohio River.
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