Grain basis was mostly flat this week even with a sharp sell-off in futures prices.
In corn, there was some modest strength in Western Cornbelt processors. River terminals however saw more strength as basis levels improved 2 cents a bushel on average.
Conversely, soybean basis slipped by 1 cent a bushel while soybean plants were mostly unchanged for the week.
First notice day for grain is on Tuesday which will see grain buyers rolling out of March contracts. With little need for extra pipeline supplies it seems likely that buyers may use the roll to reduce basis.
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