US cash grains: Soybean, corn basis steady to lower as harvest progresses
USO•US Midwest soybean and corn basis bids were steady to lower as harvest continued; the US soybean harvest was 79% complete and corn was 60% complete as of Sunday. USDA reported soybean sales of 165,150 metric tons and an additional 132,000 tons for 2026/27 delivery to unknown destinations.
1. Harvest and grain bids
Basis bids for soybeans and corn were steady to lower in the US Midwest on Friday as harvest progressed. USDA said the soybean harvest was 79% complete and corn was 60% complete as of Sunday, while merchandisers said progress was farther along in many areas. Rain showers over the weekend and early next week may stall progress, an analyst note said.
2. Export sales and futures
US exporters sold 165,150 metric tons of soybeans to unknown destinations for 2026/27 delivery, and USDA reported an additional sale of 132,000 tons for the same marketing year. USDA pegged weekly net export sales for the current marketing year at 2,576,400 metric tons for soybeans and 1,303,900 tons for corn. CBOT corn slipped 0.66% to $4.48-1/4 a bushel, while soybeans rose 0.1% to $12.36 a bushel.
