Soybeans fall to new lows; four tankers hit mines near Hormuz
Published
Jan soybeans are at $12.03¼ overnight, down 10¾ cents from Tuesday's $12.14 settle, a fresh low for this slide. Four oil tankers hit mines south of the Strait of Hormuz, Iran's Revolutionary Guard said, and WTI is still $95.38.
Only on AGSIST
On Tuesday, Nov 3, 1,748 of the 1,783 elevators AGSIST reads with the same delivery month both days posted a lower cash corn bid than Monday, 30 a higher one; 217 changed their basis, 11 weaker and 206 stronger.
5 unchanged; median change 8¢ lower. Biggest state move: Iowa, 8¢ lower (385 elevators).
On Tuesday, Nov 3, 1,514 of the 1,547 elevators AGSIST reads with the same delivery month both days posted a lower cash soybean bid than Monday, 32 a higher one; 316 changed their basis, 25 weaker and 291 stronger.
1 unchanged; median change 17¢ lower. Biggest state move: Illinois, 17½¢ lower (187 elevators). 1 outlier left out.
Corn basis on Nov 4 ran from 55¢ over December futures in Texas to 90¢ under in North Dakota, state medians of the elevators AGSIST read at 5:27 a.m. CT.
Median of 17 elevators in Texas, 47 in North Dakota. 15 states with 15 or more. USDA's North Dakota average on Nov 3: 89 under Dec (USDA AMS, North Dakota Daily Grain Bids, Nov 3, 2026).
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/2026-11-04. How this briefing is made · Monthly: AGSIST Cash Bid Index
- Jan soybeans are at $12.03¼ overnight, down 10¾ cents, and Dec corn is at $4.40½, down 2 cents from Tuesday's $4.42½ settle.
- Dec live cattle settled Tuesday at $218.15, down 0.7%, and Nov feeders fell 1.2% to $334.52½.
- Packers killed about 110,000 head Tuesday, below the 119,374 of a year ago.
- WTI is at $95.38 overnight, down 0.7% from Tuesday's $96.09 settle, after a four-week low on Tuesday.
- Thursday, Nov 5, 7:30 a.m. CTUSDA Export Sales. Soybean sales near recent weeks would fit the Mexico buying story; a weak number would add pressure.
- OngoingJan soybeans holding above $12.00 would say the slide is slowing; a break under it would extend the low.
- Tuesday, Nov 10, 11:00 a.m. CTWASDE. Corn ending stocks above 1.849 billion bushels would weigh on Dec corn near $4.40.