It can't trade, it's lock limit down. 60k contracts sitting on the ask hoping for buyers. Let this be a warning to all, don't bet against the commercials! http://futures.tradingcharts.com/cotcharts/C
What type of price do you think would be quoted now, since its limit down, which assuming nothing changes, corn will probably open down on Tue. (not necessarily limit down)
Grain basis is generally dependant on location. To-morrow if corn is limit down we'll have to look at the ATM options (which won't be limit down) and then figure out where the futures are synthetically.