Corn, Soybean Premiums Rise as Flooding Slows Barge Shipments
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Cash premiums for corn and soybeans shipped in April to terminals near New Orleans rose relative to Chicago futures as flooding slowed shipments of grain, boosting demand for immediate supplies.
The spot-basis bid, or premium, for corn delivered this month rose to 58 cents to 61 cents a bushel above May futures, compared with 55 cents to 60 cents on April 21, U.S. Department of Agriculture data show. The basis for soybeans delivered in April was 64 cents to 73 cents a bushel, up from 64 cents to 68 cents.