Crude up 2.2% to $104.27 as Houthis hit Saudi sites
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Crude is up 2.2% to $104.27 after new Houthi strikes on Saudi oil sites, while corn and beans barely moved. Diesel is the cost that is climbing for harvest hauling, and grain prices are not paying you for it.
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On Thursday, Oct 29, 1,676 of the 1,818 elevators AGSIST reads posted a lower cash corn bid than Wednesday, 72 a higher one; 171 changed their basis, 33 weaker and 138 stronger.
70 unchanged; median change 2½¢ lower. Biggest state move: Iowa, 3¢ lower (394 elevators). 1 outlier left out.
On Thursday, Oct 29, 1,465 of the 1,572 elevators AGSIST reads posted a higher cash soybean bid than Wednesday, 94 a lower one; 390 changed their basis, 347 weaker and 43 stronger.
13 unchanged; median change 4½¢ higher. Biggest state move: Iowa, 5¢ higher (346 elevators).
Corn basis on Oct 30 ran from 55¢ over December futures in Texas to 89¢ under in North Dakota, state medians of the elevators AGSIST read at 4:36 a.m. CT.
Elevators behind each median: Texas 17, North Dakota 48. 15 states with 15 or more.
Counted by code from the elevator boards AGSIST reads itself, not by the writer of this briefing. A day's change is each board's last posted bid against its own on the trading day before, same delivery period. Quote it with the date and a link to agsist.com/daily/2026-10-30. How this briefing is made · Monthly: AGSIST Cash Bid Index
Corn harvest price so far: $4.76 vs $4.62 projected (+3.0%), 21 of 22 trading days in.
Soybeans harvest price so far: $12.65 vs $11.09 projected (+14.1%), 21 of 22 trading days in.
Ours: the average of the daily CBOT settles through Oct 29, figured the way USDA RMA does. RMA posts corn at $4.78 and soybeans at $12.67, both through Oct 28. Window and projected price: USDA RMA, as of Oct 29. Oct 1-31 window, most states. Harvest price tracker →
- The Houthis, the Yemen group that has been hitting Gulf oil targets, claimed strikes on two Saudi refineries and an Abqaiq facility.
- ANZ lifted its year-end Brent forecast, and crude is headed for a fourth straight monthly gain.
- Dec corn is at $4.49¾, down 1½ cents from Thursday's $4.51¼ settle.
- November beans are at $12.20 after four straight lower closes.
- December hogs settled Thursday at $59.825, up 2.1% from Wednesday.
- Live cattle settled at $227.275 and feeders at $346.475, both slightly lower.
- OngoingWTI holding above $100 would keep fuel and diesel costs elevated for harvest and fall hauling.
- OngoingNov beans slipping below $12.00 would extend the slide past four lower closes.
- Monday, Nov 2, 3:00 p.m. CTUSDA Crop Progress shows how far harvest has come.