Soy Premium Rose as Farmers Withheld Supplies; Corn Basis Steady
This article is for subscribers only.
Cash premiums for soybeans shipped in May to terminals near New Orleans rose relative to Chicago futures as farmers withheld supplies to concentrate on planting crops. The corn basis was little changed.
The spot-basis bid, or premium, for soybeans delivered this month was 60 cents to 67 cents a bushel above July futures, up from 58 cents to 67 cents yesterday, U.S. Department of Agriculture data show. The corn basis was 56 cents to 58 cents a bushel compared with 57 cents.