Corn and soybean basis in the US Midwest little changed as harvest advances
Spot corn basis bids were mostly steady and soybean basis was mixed as harvest continued, according to Reuters.
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what happened
According to Reuters, spot basis bids for corn in the US Midwest were mostly unchanged on Thursday, with some mixed moves at grain elevators and processing sites. The harvest advanced under mostly clear skies.
Chicago Board of Trade corn futures hovered near three-month lows set on Wednesday, which discouraged farmer sales. Soybean futures, by contrast, rebounded from two-month lows of the previous day, with analysts pointing to hopes for more US soybean sales to China and firmer crude oil.
At individual sites, the corn basis fell 10 cents a bushel at an ethanol plant in Union City, Indiana, but rose 4 cents at Seneca, Illinois. Soybean basis moves at processors were mixed.
why it matters
Basis levels show how local cash prices compare with CBOT futures, affecting returns for farmers and processors. Weak corn futures and support for soybeans from exports and oil set the direction for the grain segment.
market impact
Corn and soybeans: local cash prices and CBOT futures set pressure on the grain complex
tags
instruments
sources
- Corn, soy basis steady to mixed as harvest progresses — Reuters, 22 October 2026 at 18:08 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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