Basis levels were mixed this week, as U.S corn basis values were mostly unchanged, but beans posted a 3-cent gain for the week.

Corn continues to see lackluster end-user demand. Most ethanol plants were lower in basis values this week, as the average across 105-plants was down by a penny. Western Corn Belt plants showed more weakness again this week, driven in part by higher barge rates in the Upper Mississippi. Basis levels in MN & parts of IA around the river hard corn basis move lower by 3 to 4 cents for the week.

In soybeans, strong basis gains at the Gulf of 6-cents a bushel helped lift river market bids. Even areas outside of key river markets saw reasonably good gains of 1 to 4 cents over the past week as pipeline supplies continue to dwindle for old-crop beans. With strong exports and tight stocks, we could see some sharp moves in basis/futures prices in coming months as end-users try to cover their needs.

Basis levels were mixed this week, as U.S corn basis values were mostly unchanged, but beans posted a 3-cent gain for the week.