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Corn and soybean basis have strengthened post-harvest in the Eastern Corn Belt, particularly in Indiana and Ohio, while Iowa lags behind. As winter sets in, historical patterns suggest basis levels will stabilize — but regional deviations highlight the importance of local tracking.

As corn and soybean harvest progress across the country, recent basis movements have pushed nearby basis levels above their historical averages in much of the Eastern Corn Belt. Typically, basis weakens through harvest, with nearby basis levels often bottoming out between mid-October and November. This marketing year, however, corn and soybean basis began below the two- and three-year averages, respectively, and recent movement has flipped the relationship in many USDA crop reporting districts.