Corn, soybean basis steady to mixed
CORN•Spot corn and soybean basis bids were steady to mixed in the U.S. Midwest on Thursday. Soybean bids improved at Decatur, Illinois, and Decatur, Indiana, while November soybeans were down 1/2 cent to $13.17-1/2 a bushel and December corn was up 1/2 cent to $5.29-1/2.
1. Soybean bids strengthen
Soybean basis bids improved at crushing facilities in Decatur, Illinois, and Decatur, Indiana, as plants sought supplies. In Decatur, Illinois, the article reported a 20-cent improvement to 25 cents a bushel over November soybean futures. The soybean basis weakened 2 cents at a river terminal in Toledo, Ohio.
2. Wet crops delay maturity
Farmers reported that heavy August rains left crops saturated and slowed natural drying, pushing crop maturity dates back by several weeks.
3. Futures little changed
At midday Thursday, November soybeans were down 1/2 cent at $13.17-1/2 a bushel, while December corn was up 1/2 cent at $5.29-1/2 a bushel.
