Basis bids for soybeans were mixed across the U.S. Midwest on Friday, with processor demand weakening while some river terminals strengthened bids amid shifting grain flows and futures market pressure.

Soybean basis levels declined at a processor in Lafayette, Indiana, while bids improved at a river terminal in Davenport, Iowa.

The cash market movement came as Chicago grain futures fell sharply following a closely watched U.S.-China summit that failed to deliver meaningful new agricultural trade agreements for American farmers.

Futures Markets Slide

On the Chicago Board of Trade:

• July soybeans fell 15½ cents to $11.77 per bushel.
• July corn dropped 11¾ cents to $4.55¾ per bushel.

Soybean futures touched a three-week low, while corn futures hit a four-week low as traders reacted negatively to the lack of concrete Chinese purchasing commitments.

Key Basis Changes Across the Midwest

Soybean Basis Moves

Corn Basis Highlights

Market Interpretation

The softer soybean basis at processors suggests slowing crush demand or improved nearby farmer selling, while stronger river bids indicate export channels are still actively sourcing supplies.

However, the broader grain market remains pressured by concerns over export demand after the U.S.-China summit failed to provide optimism for large-scale Chinese agricultural purchases.

China remains one of the most important buyers of U.S. soybeans, and traders were hoping for signs of renewed buying commitments amid slowing global demand and growing South American competition.

Understanding Basis Levels

Basis reflects the difference between local cash grain prices and futures prices traded on the Chicago Board of Trade.

• A stronger basis generally signals tighter local supply or stronger demand.
• A weaker basis can indicate abundant supply, reduced demand, or weaker export activity.

The “N” designation refers to July futures contracts.

Notable Soybean Basis Quotes

• Decatur, Illinois: +20N
• Lafayette, Indiana: +15N
• Toledo, Ohio: +5N
• Davenport, Iowa: -32N
• Des Moines, Iowa: -25N
• Sioux City, Iowa: -15N
• Council Bluffs, Iowa: -60N

Despite Friday’s futures weakness, basis markets remain relatively stable overall, suggesting physical grain demand has not collapsed even as speculative sentiment in futures markets deteriorates.

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