Grain basis held steady after this week after a sharp turn lower last week.
Overall corn gained 1 cent per bushel canceling out last week’s move lower. Ethanol remained steady this week averaging no changes. Corn along the river moved slightly lower this week off ¼ cent per bushel. Even with strong exports that exceeded expectations, corn seemed to be in limbo waiting on the supply and demand report for further direction.
Soybean basis continued lower following the very weak beginning to September. Basis levels are continuing to have trouble finding support and were off and average of 2 cents per bushel. Crush facilities managed to gain ½ cents per bushel and expected world demand for soyoil remains high. Soybeans along the river continued to move lower losing 7 cents this week.