Soybeans led to the downside today in a risk-off trade day with light news. Improved weather conditions have sparked increased expectations for both Argentina and Brazil’s corn and soybean production. Corn basis levels for river terminals have turned higher while ethanol plants continue to back off. Soybean basis is also at a premium at river terminals compared to crushing plants, but well below normal for this time of year.
Grain TV: Light News but Mostly Negative
Trucks waiting in line at grain elevator. ©Debra L Ferguson Stock Images