Weekly Cash Comments

Grain basis was unchanged this week for both corn and soybeans as flat futures prices and slow farmer selling during harvest keep the markets mostly in check.

Futures saw little action this week as early week gains were erased by the end of the week as a tug of war continues between bulls and bears. Production is expected to be cut at the end of the week in USDA’s monthly supply and demand report, but at the same time export business especially for corn continues to be somewhat limited.

For spot basis, there were no significant moves this week as basis stayed mostly flat. For both corn and soybeans, processor or end-user bids fell a bit on the week, but at river terminals basis level found a bit of strength. However, at the Gulf export terminal both corn and beans came under pressure losing 6 and 8 cents a bushel on the week.

—Cody Bills