Basis levels kept relatively steady during a week of volatile futures prices. Corn was up an average of 1.5 cents per bushel with soybeans slightly behind up 1.25.
Ethanol plants saw a slight rise higher this week up 1.5 cents per bushel. Ethanol production continues to stay strong, particularly in the midwest where we saw the highest production numbers this month. Corn along the river saw an average increase of 3.5 cents per bushel even with old crop and new crop exports coming in below expectations.
Plummeting futures prices kept soybean basis levels mostly stable to slightly stronger across some sectors this week. River terminals as a group were steady as old-crop business starts to trickle off. However, crush plants moved higher by 3.2 cents a bushel on the week.
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