Grain basis was mixed this week as soybean basis took a break from its steep incline since harvest to finish the week unchanged, while corn basis continued to press higher advancing 2 cents a bushel.
In corn, gains were largely driven by ethanol plants this week. As a group, they were up 3 cents a bushel, but in the Western Cornbelt there was fairly widespread gains of 5 to 10 cents a bushel. At river terminals, basis levels were in line with the US average gain of 2 cents a bushel as Gulf export bids remained flat for the week.
For soybeans, the biggest driver this week was a lower Gulf basis, which gave up 6 cents a bushel. That had an impact at upstream river terminals, which lost 3 cents on the week. Soy plants were unchanged as a group for the week.
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