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NewsSignals AI analysis·Reuters·

Corn, soy basis higher amid little selling

Grade Bbearish AI signal$CORN$SOYBEAN
US Midwest corn and soybean basis bids strengthened as low futures prices discouraged farmers from selling their crops. Rain-related harvest delays further slowed cash sales, while the USDA reported soybean harvesting 88% complete and corn harvesting 74% complete. Limited farmer selling could continue supporting local cash grain basis levels, although expectations for record-large soybean production and a near-record corn harvest could pressure prices.

Bullish strength: 35/100

  • Low prices discouraged farmer selling, tightening available cash supplies.
  • Rain interrupted harvesting and slowed crop sales.
  • Corn and soybean futures rebounded after reaching multi-month lows in the previous session.
  • US Midwest basis bids strengthened for both crops.

Bearish strength: 65/100

  • USDA expects the largest-ever US soybean harvest.
  • USDA expects the second-largest US corn harvest on record.
  • StoneX raised its US corn and soybean production estimates.
  • Corn futures were last down 2-1/4 cents at $4.42 per bushel.
  • Soybean futures were last down 2-1/4 cents at $12.00 per bushel.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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