US Cash Grains-Corn basis bids mostly steady to firmer in Midwest
CHICAGO, Oct 21 (Reuters) - Spot basis bids for US corn were mostly steady to higher at Midwestern grain elevators, spot checks showed on Wednesday.
The basis rose by 5 cents per bushel at an elevator in the Chicago area.
River terminals raised their basis bids by 10 cents per bushel at locations near Bettendorf, Iowa, and by 4 cents in Morris, Illinois.
Farmers are harvesting what is expected to be the second-largest US crop on record. However, a setback in prices has discouraged some farmers from selling, according to traders.
Chicago Board of Trade corn futures fell to three-month lows before turning higher.
For soybeans, basis bids were mixed.
The nation's soybean harvest is expected to be the biggest in history.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
Bid | Bid | |||||||
Chicago, Illinois | ||||||||
Corn processors | +5 | + | Z | +5 | + | Z | UNC | |
Corn elevators | +0 | + | Z | -5 | + | Z | UP 5 | |
Soybean elevators | -20 | + | X | -20 | + | X | UNC | |
Wheat elevators | -5 | + | X | -20 | + | X | UP 15 | |
Wheat processors | +27 | + | Z | +30 | + | Z | DN 3 | |
Decatur IL corn | -5 | + | Z | -5 | + | Z | UNC | |
Decatur IL soybeans | +5 | + | X | +10 | + | X | DN 5 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +5 | + | X | -5 | + | X | UP 10 | |
Toledo OH (port) | ||||||||
Corn | -20 | + | Z | -20 | + | Z | UNC | |
Soy | -30 | + | X | -30 | + | X | UNC | |
SRW wheat | -30 | + | Z | -30 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -50 | + | Z | -60 | + | Z | UP 10 | |
Soy | -49 | + | X | -60 | + | X | UP 11 | |
Evansville IN (rail) | ||||||||
15-car CSX corn | -14 | + | Z | -14 | + | Z | UNC | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +120 | + | Z | +120 | + | Z | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -14 | + | Z | -14 | + | Z | UNC | |
Morris IL (river) | ||||||||
Corn | -30 | + | Z | -34 | + | Z | UP 4 | |
Soybeans | -20 | + | X | -30 | + | X | UP 10 | |
Fort Worth TX corn | +120 | + | Z | +120 | + | Z | UNC | |
Blair NE corn | -25 | + | Z | +0 | + | Z | DN 25 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -25 | + | Z | -25 | + | Z | UNC | |
Soy | -70 | + | X | -65 | + | X | DN 5 | |
Des Moines IA soy | -40 | + | X | -40 | + | X | UNC | |
Sioux City IA soy | -45 | + | X | -45 | + | X | UNC | |
NOTE: 0 = Option Price, UNC = Unchanged, UNQ = Unquoted, NC = Not Comparable, DP = Delayed Price, N/A = Not Available, F = January, H = March, K = May, N = July, Q = August, U = September, X = November, Z = December
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LINKS:
For US forward basis spreadsheets, please click on:
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- US grain barge freight values BG/US
- US Midwest cash grain AM GRA/M
- US CIF/FOB Gulf Grain GRA/F