The cash markets saw relatively small gains this week with basis along the river beginning to taper off.
On average corn gained 1 1/2 cents per bushel, slowly grinding higher for the third week in a row. Ethanol plants saw gains as well up 2 1/4 cents. Ethanol production was off slightly, down 3,000 BPD. Even so, stocks remained high gaining 343,000 barrels. Corn along the river remained unchanged from last week.
Soybeans held onto last week’s numbers remaining unchanged both nationally and at crush facilities. Soy oil continues to get a boost from strength in palm oil market. Wednesday saw the largest movement higher for soy oil futures in the past year. Soybeans along the river saw relatively large losses this week, off 5 1/2 cents per bushel.
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