Corn and Soy Basis Bids Hold Steady
Corn and Soy Basis Bids Hold Steady
Basis bids for corn and soybeans delivered to U.S. Midwest elevators, processors and river terminals were largely unchanged in a spot check of locations on Thursday.
Soybean basis bids rose at a processing plant in Lafayette, Indiana. They were unchanged elsewhere. Corn basis bids were flat in every location in the spot check.
Chicago corn and soybean futures firmed on Thursday as investor doubts about prospects for a deal to reopen the Strait of Hormuz drove oil prices higher, supporting prices of crops used to make biofuel.
CBOT July soybeans (SN26) settled 9-1/4 cents higher at $11.94-1/2 per bushel. CBOT July corn (CN26) ended 3-1/4 cents higher to $4.55-3/4 per bushel.
Basis values are quoted against CBOT futures in cents/bu. See the full table below.
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