NewsSignals AI analysis·Reuters·
Soy, corn basis mostly steady to firmer as harvest winds down
Grade Bbullish AI signal$ZS$ZC
US Midwest corn and soybean basis bids were mostly steady to firmer as harvest neared completion, with grain handlers raising bids to secure remaining supplies.
The USDA reported soybean harvest completion at 79% and corn at 60%, while soybean basis strengthened by 15 cents per bushel at a Cedar Rapids, Iowa, crushing plant and corn-based ethanol production rose to 1.118 million barrels per day.
Tighter remaining harvest supplies and reduced farmer selling could support cash grain prices, although declining CBOT futures remain a potential headwind for corn and soybeans.
Bullish strength: 65/100
- Midwest corn and soybean basis bids were mostly steady to stronger as harvest wound down.
- Soybean basis rose 15 cents per bushel at a Cedar Rapids, Iowa, crushing plant.
- Cooling farmer selling and improving local bids could support cash grain prices.
- Corn-based ethanol production increased by 24,000 barrels per day to 1.118 million barrels per day.
Bearish strength: 35/100
- Corn and soybean futures have been in a downtrend during the month.
- December corn recently reached its lowest price since mid-July.
- November soybeans remain near a two-month low.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.