Tidbits, Basis Bids, Crop Estimates, Oil Jobs, Exports Sales 10/3/25
- Wright team
- Oct 3
- 4 min read
Tidbits
Basis bids: With all the recent talk about shallow water on the Lower Mississippi reducing barge capacity and increasing the cost of freight, we were surprised to learn that the soybean basis on the Lower River actually firmed 6 to 7¢ last week. Even more surprising is the soybean basis on the Upper Mississippi firmed 11 to 22¢ yesterday! What do they know that we do not know? Our guess is they know China will be buying U.S. soybeans.
Rapid harvest progress, no China soybean purchases, restricted barge loading due to low water levels, why has the bean basis firmed as much as it has?
Rumor is the USDA will pay $105 per acre of soybeans and a lesser amount for disaster aid corn and wheat acres, according to Nashville basis deride. This resulted in a net strengthening of the soybean basis by approximately 6 to 11 cents per bushel.
Crop estimates: StoneX lowered its corn yield estimate by one bushel to 185.9 bpa and increased the soybean yield to 53.9, up by 0.7 bushel from last month.
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