Weekly Cash Comments

July 31, 2015 | Grain Hedge Insights | Cody Bills

Cash grain basis was mixed this week with corn basis up 2 cents a bushel, while soybean basis was off 2 cents a bushel.

 

In corn, basis levels were mostly firmer in Iowa and Nebraska as ethanol plants have bid higher in an interest to get more farmer grain after the recent sell off. In addition, buyers in Indiana and Ohio posted higher basis as futures prices declined and poor new-crop prospects limited farmer movement of old crop supplies.

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Soybean Sales Cancellations

July 31, 2015 | Grain Hedge Insights | Cody Bills

In the overnight session the grains traded mixed with corn up 1 3/4 cents, soybeans down 2 cents and wheat up 5 3/4 cents. Crude oil is trading down 69 cents and the U.S. Dollar has shed nearly 1 percentage point. Soybeans have struggled over the last two days to rise above the 100 day moving average which looms overhead at $9.56. This morning China canceled 200,000 metric tons of old crop soybean sales.  

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