US Cash Grains-Soy and corn basis bids tumble at facilities across Midwest
DBA•Soybean basis weakens as harvest begins
Cash basis bids for soybeans were steady to weaker in the U.S. Midwest on Tuesday as the harvest launched in some areas, with hot and dry weather this week limiting delays, and soybean futures rose.
- The harvest began in southern portions of the Midwest, including Missouri and southern Illinois last week, according to analysts.
- The spot soybean basis fell at processors in Decatur, Illinois, Morristown, Illinois and Cedar Rapids, Iowa. It also fell at a grain elevator in Cincinnati, Ohio and river terminals in Savanna, Illinois and Davenport, Iowa.
- Hot, dry weather is expected to continue in the coming weeks, keeping harvest delays at a minimum, according to forecaster Commodity Weather Group.
- CBOT November soybeans SX26 were up 6-1/2 cents at $13.16-1/4 a bushel.
