NewsSignals AI analysis·Reuters·
Soy basis steady-weaker after active week of harvest
Grade Bbearish AI signal$ZS$ZC
U.S. soybean basis bids were mostly steady to weaker as active harvesting brought fresh supplies into Midwest markets, with declines of 10 cents per bushel in Toledo and 5 cents in Council Bluffs.
Soybean export sales to China strengthened Gulf export basis, while November soybean futures rose 3.5 cents to $12.56½ per bushel and December corn futures fell 4.5 cents to $4.56.
Continued harvest pressure could weigh on local soybean basis, although sustained Chinese export demand may help support Gulf prices.
Bullish strength: 45/100
- Soybean export sales to China strengthened Gulf CIF basis.
- November soybean futures gained 3.5 cents to $12.56½ per bushel.
- Soybean basis improved by 5 cents at a Morris, Illinois, elevator.
Bearish strength: 55/100
- Active harvesting increased fresh soybean supplies entering Midwest marketing channels.
- Soybean basis fell 10 cents per bushel in Toledo and 5 cents in Council Bluffs.
- December corn futures declined 4.5 cents to $4.56 per bushel.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.