US corn basis was mostly steady on the week while soybeans posted a modest 1-cent advance as futures climbed to two-year highs.
Corn basis levels along the Gulf were up sharply this week, posting an 8-cent advance as late season export business continues to be stronger than normal for this time of year. River terminals were more muted in their gains, but managed a 2-cent improvement on the week. Corn ethanol plants were mostly steady this week.
In soybeans, the strength in the export market continues to keep basis levels supported. This week Gulf basis was up 10 cents which helped lift river terminals by nearly 6 cents a bushel. After being up sharply last week, soy crush plants managed only a 1-cet advance for the week.
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