The first week in 2021 is witnessing the nearby corn futures prices closing in on $5.00 per bushel. The last time corn prices were this high was May 2014. The corn futures rally is following soybeans higher, and cash has struggled to keep pace, widening the basis for this time of year. Soybean prices are following a trajectory similar to corn with nearby soybean futures prices increasing $1.00 per bushel in the last week and a half, reaching the highest values since June 2014.
For more on this topic, see the Livestock Monitor article below.