Grain futures basis and spreads indicate underlying

Grain futures basis and spreads indicate underlying market tightness, despite muted headline price action. Cash market signals in corn and soy show that rural elevator inventories are below seasonal norms. Despite the Planning Commission's recommendation to deny a change to the cannabis zoning ordinance, Dahms plans to make his case for the business in Baker at the upcoming Clay County Commission meeting. Offers for 11.5% wheat on an FOB Constanta-Varna-Burgas (CVB) basis for November loading were indicated around $235-236 per tonne. January 2026 loading dates were indicated at a premium of €4 per tonne premium to the March 2026 Euronext wheat contract. Analysts tracking grain futures note that El Niño patterns could disrupt planting intentions for