Grain basis posted positive gains over the week with both corn and soybean basis up over 1-cent a bushel on average.
Gulf basis was a key driver this week reversing the trend of falling basis levels in recent weeks. Gulf export basis was up 5 cents for corn and 3 cents for soybeans on the week. River terminals also lifted basis by a wide margin with corn basis at river terminals up 6 cents while soybean basis at river terminals was up 5 cents.
End users followed higher as well with corn basis up 2.5 cents a bushel for the week, while soybean plants were up nearly 3 cents on the week.
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