Grain basis levels were mixed this week as soybeans posted a 0.8 cent per bushel increase across the U.S while corn basis was off by nearly 3 cents a bushel.

Corn was especially hard hit this week in the Western Cornbelt as ethanol plants seemed to shun corn as prices moved higher. In IA, WI, MN, & NE, ethanol plants were off 3 to 6 cents a bushel. Eastern Corn Belt plants were mostly unchanged as planting lags in this part of the country, keeping farmer sales slow.

In soybeans, basis levels were mostly steady throughout much of the country. Modest gains of 2 to 3 cents a bushel were noted in the Eastern Corn Belt, again reflecting farmer activity in the field and limited bean movement. The Upper Mississippi region was weaker as barge rates moved up slightly in this region.

Grain basis levels were mixed this week as soybeans posted a 0.8 cent per bushel increase across the U.S while corn basis was off by nearly 3 cents a bushel.