Grain Cash Markets See Mixed Performance Amid Rally in Futures

The cash markets for grains experienced a rally in grain futures last week, which offset some of the widening basis. The national average corn basis slipped by 20 cents to 20 1/2 cents below December futures, but the national cash corn index price firmed up 49 3/4 cents from last Wednesday to $5.33 1/2.

The soybean market saw a slight decline in its national average basis, down 2 1/2 cents from last week to 9 1/4 cents above November futures. However, the national cash soybean index price rose by 70 3/4 cents to $13.20 1/4.

The wheat market experienced a widening of its national average soft red winter basis, which is now weaker than the three-year average of 49 3/4 cents below December futures. The national average hard red winter wheat basis also widened, and is wider than the three-year average of 54 1/2 cents below futures.