Grain basis was slightly firmer on the week, but still showing no real movement to the upside. For the week, US average corn basis was up 0.5 cents a bushel, and soybeans up only 0.25 cents a bushel.
A late week rally in beans got some uptick in country movement but buyers are keeping basis levels fairly steady with more supplies as planting season will bring a temporary halt to farmer selling. For corn basis, river terminals found some modest strength this week as basis at the Gulf moved 4 cents higher on a recent uptick in export activity. For soybeans, basis was 1-cent higher at the Gulf, which helped lift river terminal basis on the week.
End users of corn for ethanol were modestly higher as a group, although there were some notable bids that were up 5 to 10 cents on the week. For soybean plants, basis levels were up 0.5 cents on average with most facilities keeping basis unchanged for the week.
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