Corn, cotton, soybeans, and wheat were down for the week.
Basis in Tennessee has continued to decline as record state average yields for
corn and soybeans maintain downward pressure on local markets. In September
2016, soybean basis across the state averaged 8 over the November
futures contract. This year average basis, in September, was 20 under the November contract, a 28 cent decrease in average monthly basis. Soybean basis in Tennessee typically bottoms out in October or November, so basis will likely continue to deteriorate
as the record Tennessee harvest enters the market. Currently, October basis across Tennessee averages 34 under the November futures contract. Continue reading at Tennessee Market Highlights.