Futures prices for corn and soybeans are nothing to shout about, but basis continues to move to stronger levels. Measured weekly, 2018 corn crop basis has rallied 50% since harvest and soybean basis has rallied 41% at an example central Iowa elevator (charts included below). Farmers should monitor local basis and perhaps lock in basis for later pricing.
Check out the basis maps for Iowa at this link.
Want more news on this topic? Iowa Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!