Grain basis was flat to weaker this week with corn unchanged while soybeans fell 1 cent a bushel.
In soybeans, futures prices were off sharply from the highs on the week, but basis levels took a turn lower as increased farmer sales helped replenish pipeline supplies. Export sales continue to be relatively strong, but basis levels at the Gulf gave up 2 cents on the week. River terminals lost early 4 cents a bushel this week, while soy crushing plants were off 2 cents a bushel on average.
In corn, ethanol production rebounded this week and export sales were robust. Ethanol plants were weaker by 1.5 cents, while river terminals boosted their basis by nearly 3 cents a bushel.
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