The cash market saw loses yet again this week with soybeans getting hit especially hard.
Corn continues to hold up as unseasonably strong export movement is holding basis up for the time being. On average corn saw basis losses of 1 1/4 cents per bushel. Ethanol plants are holding strong as well only off 1 cent. River facilities were the biggest loser in the corn market this week losing 3 1/2 cents.
Soybeans were off an average of 9 1/4 cents being heavily weighed down by crush facilities and river terminals. Crush facilities saw losses of 12 cents moving even lower from last week’s 23 cent drop. River terminals were hit the hardest this week off 22 3/4 cents per bushel. Potentially adding more pressure was the closure of three Mississippi River locks in southern Iowa and northern Missouri earlier in the week.
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