CBOT Agricultural Market Analysis: Corn at a Four-Month Low, Soybeans at a Two-and-a-Half-Month Low, but Basis Is Rising—Who Is Mispricing the Market?

CBOT corn and soybean futures fell on November 5, while wheat edged higher and hard red winter wheat also rose. The article cited expectations for large U.S. crops and higher estimates from StoneX, but said firm-to-higher Midwest basis bids and harvest delays were slowing farmer sales and supporting cash markets ahead of the USDA’s next monthly supply-and-demand report.