Corn Basis Weakens Across Eastern Corn Belt Amid Harvest Dip

The September crop basis update from Purdue University's College of Agriculture provides insight into regional strength and weakness in the Eastern Corn Belt. As of the fourth week of September, nearby corn basis to December futures was strongest in parts of Indiana, Ohio, and Michigan, while weakest in Iowa and Illinois.

Over the past four weeks, basis has broadly weakened across the region, consistent with the typical harvest dip. However, corn basis in Iowa has stood out, showing consistent strengthening across the state.

The Purdue analysis suggests that evolving basis across the region may reflect a range of supply and demand dynamics, including local production, harvest progress, and end-user activity.