Home / Markets / Markets Analysis / Grain basis up on Gulf gains

Grain basis up on Gulf gains

Agriculture.com Staff 08/17/2009 @ 8:30am

Corn and soybean basis found some modest improvements in the last week as struggling futures and higher Gulf bids helped boost interior basis levels.

Basis levels for corn were up modestly, posting a 1-cent improvement for the week. Gulf corn basis was up 7 cents on the week, which helped spurn bids along the River system this week. The Southeast and eastern seaboard were slightly weaker for the week.

For beans, basis levels firmed with average basis levels increasing by 5 cents a bushel. At the Gulf, bean basis levels climbed 10 cents a bushel. With front-month futures moving sharply lower, especially in the deliverable August contract, cash and futures prices are starting to be more in sync. The effect should be more normal bean basis patterns heading into harvest, although the bias will still be for lower basis.

Corn and soybean basis found some modest improvements in the last week as struggling futures and higher Gulf bids helped boost interior basis levels.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Farm and ranch risk management resources By: 07/07/2010 @ 9:10am Government resources USDA Risk Management Agency Download free insurance program and…

Major types of crop insurance policies By: 07/07/2010 @ 9:10am Crop insurance for major field crops comes in two types: yield-based coverage that pays an…

Marketing 101 - Are options the right tool… By: 07/07/2010 @ 9:10am "If you are looking for a low risk way to protect yourself against prices moving either higher or…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Craftsman Two-in-One