US cash corn basis mixed as Midwest weather is seen improving
CORN•US Midwest corn basis bids were mixed as forecasts called for drier weather that could favor harvest, though fieldwork delays may persist. Bids fell 7 cents per bushel at processors in Blair, Nebraska, and Cedar Rapids, Iowa, and rose 4 cents at a Cincinnati elevator.
1. Weather and harvest
Forecasts called for drier weather that could favor harvest activity, but progress is expected to remain slow in some areas. The US Department of Agriculture said fieldwork delays were likely to linger for many days after heavy rainfall in parts of the central Plains and western Corn Belt, as producers tried to avoid soil compaction. Brokers also noted concerns about declining grain quality.
2. Basis and crop estimates
Corn basis fell 7 cents per bushel at processors in Blair, Nebraska, and Cedar Rapids, Iowa, while it improved 4 cents at a Cincinnati elevator. Soybean basis bids were mostly steady. StoneX lowered its 2026 US corn yield estimate to 182.1 bushels per acre from 182.9, and raised its soybean estimate to 54.1 from 53.0; both estimates remained above current USDA estimates.
