Corn Basis Weakens Under Harvest Pressure
Corn basis is weakening across the Corn Belt as harvest accelerates, with the seasonal low typically occurring when roughly half the crop has been brought in. The average basis decline reaches around 11 cents per bushel at the Corn Belt level, with deeper losses of up to 19 cents per bushel in Illinois and other central/eastern states, directly reducing the effective price farmers receive for spot sales. Basis is expected to recover only after harvest passes the three-quarter completion mark, meaning near-term cash prices face continued downward pressure relative to futures.
