Midterms hand Democrats Congress; Dec corn is at $4.47¼ overnight
Published
Democrats took Congress with wins in farm states, but December corn barely moved overnight at $4.47¼. Nobody is pricing the farm bill yet. Today's corn price still comes from harvest supply and export demand.
Only on AGSIST
On Wednesday, Nov 4, 1,817 of the 1,819 elevators AGSIST reads with the same delivery month both days posted a higher cash corn bid than Tuesday, 2 a lower one; 209 changed their basis, 25 weaker and 184 stronger.
0 unchanged; median change 7¢ higher. Biggest state move: Iowa, 7¢ higher (395 elevators). 2 outliers left out.
On Wednesday, Nov 4, 1,415 of the 1,591 elevators AGSIST reads with the same delivery month both days posted a higher cash soybean bid than Tuesday, 86 a lower one; 397 changed their basis, 33 weaker and 364 stronger.
90 unchanged; median change 1¢ higher. Biggest state move: Indiana, 1¾¢ higher (59 elevators).
Corn basis on Nov 5 ran from 55¢ over December futures in Texas to 90¢ under in North Dakota, state medians of the elevators AGSIST read at 4:19 a.m. CT.
Median of 17 elevators in Texas, 49 in North Dakota. 15 states with 15 or more. USDA's North Dakota average on Nov 4: 89 under Dec (USDA AMS, North Dakota Daily Grain Bids, Nov 4, 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/2026-11-05. How this briefing is made · Monthly: AGSIST Cash Bid Index
- December corn is at $4.47¼ overnight and January beans at $12.05¾, both slightly above Wednesday's settles.
- USDA AMS shows Gulf export bids at 92 to 94 cents over December for corn, with weekly export sales due at 7:30 a.m. CT.
- December live cattle settled Wednesday at $218.00, down 15 cents, and November feeders fell 0.7% to $332.025.
- December hog futures settled at $57.55, down 1.8%, while USDA AMS put the pork cutout at $69.29, down $3.14 on the day.
- WTI is at $88.91 overnight, up 0.9% from Wednesday's $88.12 settle.
- Iran's Revolutionary Guard said two tankers and a tugboat took off in the Strait of Hormuz, and Brent is near $94 after the election results.
- Thursday, Nov 5, 7:30 a.m. CTUSDA Weekly Export Sales. Soybean sales under 1 MMT would look soft next to Gulf bids.
- OngoingDec corn back under $4.40 would say harvest supply is outweighing the vote and export news.
- Tuesday, Nov 10, 11:00 a.m. CTUSDA WASDE and Crop Production, the next look at yields and stocks.