Corn Premiums Fall on Slow Demand, Shipping Delays; Soy Steady
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Cash premiums for corn shipped in May to terminals near New Orleans fell relative to Chicago futures as export demand slowed and high river waters slowed shipments. The soybean basis was steady.
The spot-basis bid, or premium, for corn delivered this month was at 55 cents to 59 cents a bushel above July futures, down from 55 cents to 61 cents on April 29, U.S. Department of Agriculture data show. Soybeans basis bids were unchanged 64 cents to 70 cents a bushel above May futures.