Weekly Cash Comments - June 16

Published on: 16:14PM Jun 16, 2017

Grain basis was mostly stable this week for corn and soybeans with neither commodity showing any strong trends on the week. On average, US corn basis was up 0.9 cents a bushel while soy basis was up 0.7 cents.

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In corn, basis levels were firmer across the Southern Plains and river terminals this week. The Gulf market inched higher by 1 cent a bushel but river terminals as a group were consistently 2 to 4 higher on the week. Meanwhile, ethanol plants as a group were mostly flat, but there was some higher bids at some plants in the WCB that ranged from 3 to 5 above last week.

For soybeans, basis levels at river terminals were a drag on the broader market as river terminals as a group sinking 3.5 cents on the week while the Gulf basis actually was bolstered by 2 cents on the week. For soy crush facilities, the basis was up 2.7 cents a bushel with 5 to 8 cent gains fairly typical across the plants in the WCB.

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